Inflation jumped to 6.8 percent, the highest rate since September 1993, according to data from the government's Working Center for Economic Reform. That figure, for the week of Oct. 11 to 18, was up sharply from the previous week's rate of 2.7 percent.
The ruble plunged 21 percent against the dollar Oct. 11, leading many retailers to raise prices. The currency fell 845 points that day to 3,926 to the dollar. It has since recovered, and closed at 3,046 Wednesday.
The report said that during the week surveyed, non-food prices rose 8.4 percent, food prices 6.3 percent and service rates 2.1 percent.
But Economics Minister Alexander Shokhin told reporters Wednesday that inflation will continue an overall gradual decline in coming months, despite October's surge.
"It's possible to speak of a steady trend toward lower inflation," he said, adding that inflation for the month could jump to 12 percent.
Inflation also rose in September, to 7.7 percent, compared to 4 percent in August. The government says it will bring the monthly rate down to 5 to 7 percent by year's end.
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