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Prices Rise Slowly but Surely

By The Moscow Times

Russia's consumer prices rose 0.1 percent in the week to May 21, the same pace as in the two preceding weeks, the State Statistics Service said 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)

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