March 25, 2020 / 1:00 PM / 4 days ago

Russian weekly inflation spikes as rouble hits 4-yr lows

MOSCOW, March 25 (Reuters) - Consumer inflation in Russia spiked to 0.3% in the week to March 23, reflecting a steep drop in the rouble and increased demand for food amid coronavirus fears, after running at no more than 0.1% for several weeks in a row, data showed on Wednesday.

Prices for sugar rose 7% in one week, while prices for buckwheat and pasta increased by 2.8% and 1.0%, respectively.

In annual terms, inflation sped up to around 2.5%, according to Reuters calculations, from 2.3% in February, but still held below the central bank’s 4% target. (Reporting by Andrey Ostroukh and Elena Fabrichnaya; Editing by Hugh Lawson)

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