Russia Inflation Rate Down to 7.0% in March


Russia's Annual inflation slowed to 7.0 percent in March from 7.3 percent in the previous month. The consumer price index rose by 0.3 percent month-on-month in March after rising 0.6 percent in the previous period, according to a release from the Federal Statistics Service.

In March, the price indexes of wheat flour, pasta, bread and bakery products made from wheat flour increased 1.1-1.9 percent. The price index for alcoholic beverages increased 1.9 percent. Vodka was up 1.7 percent.

In the group of fruits and vegetables, prices for carrots and beets increased 6.3 percent, cabbage, onions and potatoes 2.2-4.3 percent and pears 1.3 percent. At the same time, price of cucumbers fell 9.0 percent and tomatoes, apples, grapes, oranges, bananas decreased 0.3-2.9 percent.
 
The average cost of a minimum food basket in Russia at the end of March 2013 amounted to 2,716.1 rubles per month. This represents a monthly increase of 0.9 percent and an annual rise of 3.9 percent.
 

GKS | Nuno Fontes | nuno@tradingeconomics.com
4/4/2013 2:47:20 PM