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Consumer Prices Rise Slowly

Russia's consumer price index rose 0.5 percent month on month in January after rising 0.4 percent in the previous period, the State Statistics Service said Monday.

The increase came below analysts' expectations of a rise in the CPI index of 0.6 percent, according to the latest Reuters poll.

Year-on-year inflation has moderated further to 4.2 percent compared with 6.1 percent in December and 9.6 percent in January 2011. The Central Bank aims to keep a rise in consumer prices this year at 5 percent to 6 percent after inflation scored a new post-Soviet low of 6.1 percent in 2011.

(Reuters)

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