Inflation has reached 11 percent since the beginning of the year in Russia
Photo: Mikhail Razuvaev
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2008 Inflation Reaches 11% in Russia
Inflation has reached 11 percent since the beginning of the year in Russia, RIA Novosti reports, citing data from Rosstat. Prices rose 0.2 percent in the last week and 0.4 percent since the beginning of the month. Last year, prices had risen 8.5 percent in the same period. Inflation reached 11.9 percent in 2007.
According to the government plan, prices were not to grow more than 11.8 percent this year. Thus, the Finance Ministry and other fiscal authorities will have to hold price growth down to 0.8 percent for the remaining two and a half months of the year to meet the plan. The Ministry of Economic Development does not expect price growth for the month to exceed 1 percent.
Eggs have risen most in price in the last week (3.3%). Chicken meat rose 0.8 percent and sausages 0.7 percent. Flour and rice fell slightly in price (0.1% and 0.2%, respectively), as did gasoline.
www.kommersant.com
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