A pensioner holds a Sberbank savings book.
Photo: Ivan Makeev
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Inflation Didn’t Match Bad Expectations
Russia had the 1.7-percent inflation in January, Federal Statistics Service reported. In all history of Russia, the lower inflation was registered only in January of 1998. Natural monopolies are said to be the key reason of this year's growth in prices.
Russia had the 1.7 percent inflation in January, Federal Statistics Service reported. It was 2.4 percent in January of 2006, 2.6 percent in January of 2005 and 1.8 percent in the first month of 2004. This year’s record is even more surprising in view that the prices were skyrocketing in the first decade of 2007.
Then, Russia’s Finance Ministry reported the surge of 1.1 percent and set to elaborating additional actions to contain the annual inflation at 8 percent.
But the gloomy conclusions of the ministry turned out at least premature. The first ten days would be hardly illustrative to predict the monthly surge in prices. Tariff rates for natural monopolies, including housing and communal services, account for the most sizeable contribution, said Maria Mosolkova from Economic Expert Group, specifying that such prices soar in one go, starting from January 1.
www.kommersant.com
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