 "Russia's inflation at 9.5% amid rising prices of essentials, shows data")
Russia's inflation has reached 9.5 per cent this year, according to new weekly data showing that the consumer price index rose by 0.33 per cent in the week leading up to Dec. 23, the statistical agency Rosstat reported on Wednesday.
This data follows the central bank's unexpected decision last week to maintain its key interest rate at 21 per cent . The regulator said recent tightening has created conditions conducive to reducing inflation towards its target of 4 per cent .
The agency indicated that seasonally volatile prices for fruit and vegetables contributed significantly to the overall increase, with cucumber prices rising by 8.3 per cent and tomato prices by 1.9 per cent in just one week.
Among less seasonally sensitive foods, the price of eggs increased by 1.7 per cent , and frozen fish by 1.4 per cent . The central bank had initially estimated this year's inflation at a maximum of 8.5 per cent .
The central bank's monetary policy department's head Andrei Gangan told the Interfax news agency on Dec. 24 that full-year inflation will be between 9.6 per cent and 9.8 per cent .
Inflationary expectations among households for the coming year also reached 13.9 per cent in December, the highest level since the beginning of the year.
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In a report on its inflationary expectations survey, the central bank said respondents were most concerned about rising prices for milk, dairy products, eggs, meat, and fish.
It also said respondents have begun to notice increases in the prices of home appliances and electronic devices. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)