Russian inflation passes 10%

GMT 15:44 2014 Wednesday ,24 December

Arab Today, arab today Russian inflation passes 10%

Russia's Communist Party supporters dressed
Moscow - AFP

Russian inflation has climbed into double digits -- hitting 10.4 percent, data released Wednesday showed, indicating that prices could be growing faster than expected due to the depreciating ruble.
Consumer prices rose by 0.9 percent last week alone, the state statistics service said, with pronounced jumps in the cost of some types of produce and sugar, which rose by 7.5 percent.
Many consumer goods are imported into Russia, meaning the slide in the value of the ruble will eventually feed through onto price tags of products.
The central bank said earlier this month that it expects inflation to hit 10 percent before the end of the year and then peak at 11.5 percent in the first quarter of 2015.
Russia's economy ministry predicted inflation would remain in single digits.

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