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Russian consumer prices rise 0.1 pct in latest week
November 8, 2012 / 12:05 PM / 5 years ago

Russian consumer prices rise 0.1 pct in latest week

MOSCOW, Nov 8 (Reuters) - Russia’s consumer prices rose 0.1 percent in the week to Nov. 6 after remaining unchanged in the previous week, the Federal Statistics Service said on Thursday.

This brings inflation since the start of the year to 5.7 percent compared to 5.4 percent in the same period of 2011.

Rising inflation is concerning policymakers, as higher food prices caused by a poor harvest have pushed annual inflation above the central bank’s original 5-6 percent target for the year.

Headline inflation in October registered a surprise fall to 6.5 percent year-on-year, easing pressure for a rise in interest rates at the central bank’s monthly policy meeting on Friday.

However, the bank expects that the figure will reach 7 percent by the end of the year.

Reporting by Jason Bush; Editing by Lidia Kelly

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