The Central Bank intends firmly to keep its inflation target at between 5 percent and 6 percent this year, Chairman Sergei Ignatyev said Wednesday. Ignatyev also told the State Duma that the country saw $42 billion in net capital outflow between January and April. This is equivalent to half of...

Russia needs to speed up its fiscal consolidation and consider monetary tightening while oil prices are high and inflation is benign. PARIS — Russia needs to speed up its fiscal consolidation and consider monetary tightening while oil prices are high and inflation is benign, the Organization for Economic Cooperation and Development said Tuesday. The OECD...

... rates unchanged Thursday, holding its refinancing rate at 8 percent, the fixed one-day repo rate — a de facto ceiling for money-market rates — at 6.25 percent, and the overnight deposit rate at 4 percent. It expects to meet its full-year inflation target of 5 percent to 6 percent but acknowledged that inflation will spike in the second half of the year because of a planned hike in utility tariffs, postponed from January to July, and a waning positive effect from slowing food-price inflation...

... percent in the week to May 5 after staying flat in the preceding week, the State Statistics Service said Friday. This takes the cumulative increase in prices since the start of the year to 1.9 percent, compared with 4.3 percent in the same period of 2011. Inflation is set to accelerate later in the year because of a planned hike in utility tariffs, but the Central Bank pledges that it will keep the full-year rise in consumer prices in the range of 5 percent to 6 percent. In 2011, inflation hit a record...

... Wednesday. This brings the cumulative rise in the consumer price index since the start of the year to 2.1 percent compared with 4.6 percent over the same period in 2011. First Deputy Central Bank Chairman Alexei Ulyukayev said earlier this week that May inflation should be about 0.4 percent and reiterated that full-year growth in consumer prices will be within the target of 5 percent to 6 percent. In 2011, inflation hit a record low of 6.1 percent. (Reuters)

President Vladimir Putin warned construction companies in the 2014 Olympic city of Sochi against inflating prices and lagging behind schedule. Less than a week after he was sworn in as president, Putin on Friday went to the Black Sea resort to inspect sites for the Winter Games and chide construction companies. The firms are responsible for the bills...

... April 28, after rising 0.1 percent for four consecutive weeks, the State Statistics Service said. This keeps the cumulative increase in prices since the start of the year at 1.8 percent, compared with 4.2 percent in the same period of 2011. Headline inflation was steady at a record post-Soviet low of 3.7 percent in March, year on year, but it is expected to pick up significantly in the coming months, after a freeze on gas and power prices is lifted and base effects disappear. (Reuters)

... service Aeroexpress saw its net profit increase 170 percent to 720 million rubles in 2011, signaling another positive development for companies working with the airline sector. "The relative stability of Russia's economy in 2011 combined with low inflation increased consumer purchasing power and, consequently, demand for Aeroexpress services," the company told Interfax. 179742

... new faces, RIA-Novosti reported. United Russia has suffered a considerable decline in popular support lately, hitting a record low in the December State Duma elections with less than 50 percent support. Party critics claim that even that figure was inflated as a result of election fraud. 179742

... total cost of the 2,000 square meters of damaged grass at 1 million rubles ($32,000), but later raised the figure to 20.4 million ($660,000), Interfax reported. Opposition figures criticized the numbers, presenting information that showed the costs were inflated. "This sum can only be called bewildering," Solidarity activist Ilya Yashin told Kommersant. "It must be some kind of golden grass." Echo Moskvy editor Alexei Venediktov wrote on Twitter that the most expensive grass available...

... reported harassment by state bodies and seizure of assets by business interests close to the ruling elite. Economic growth driven by high prices for the country's commodity exports has been healthy, reaching more than 8 percent in 2011, but galloping inflation has canceled out the benefits for most households. Selling the country's natural gas to buyers like China has generated valuable income but also reportedly deprived many domestic households of their basic fuel requirements. International economists...

... similar methodologies to determine such a price, the unwillingness of the controllers to converge is perfectly understandable. Fiscal bias requires customs to seek a higher price of goods at customs, while tax authorities generally are not interested in inflating the cost of goods sold and other expenses that are deducted from the profits tax base. Anna Zelenskaya Associate, Tax Goltsblat BLP To be fair, customs valuation and transfer pricing have a significant number of differences that make an easy...

... European leaders contended that increased investment in the economy is necessary to expand production and create more jobs. Meanwhile, German Chancellor Angela Merkel said the solution lies with strict controls over spending and the money supply to limit inflation. The final communique issued by the summit reflected the delicate balancing act between those two approaches. At the same time, Medvedev seemed to be in a state of euphoria, claiming that the global economic slowdown has had no bearing on Russia...

... shopping centers are directly related to the revenues of the retailers in the complex, a relationship that leads to an automatic increase in rental income in case retailers' revenues increase. Investments in shopping centers are probably some of the most inflation-proof assets in the commercial real estate segment. And that makes them especially attractive in today's market. 458356 436941

... preparation and on the fees for their services. There has been a fairly sharp change in recent case law with regard to this issue: from 17,000 rubles in 2008 to 1.5 million rubles in 2009. This increase of almost one hundred times is not linked just to inflation, an increase in the actual cost of law firms' services, or fees emerging from the shade, but to the change in judicial approaches to the sole legal criterion for reducing the amount of legal costs incurred: the reasonable limit of such costs...