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Russia's inflation rate in January has hit a 16-year-old high record, according to statistic agency Rosstat.
The agency said Thursday that inflation rate in January amounted to 3.9%, comparing to 2.6% in December 2014. The rate was considerably higher than Rosstat's forecast of 2.7% and economists' consensus outlook of 2.6, Xinhua reported.
The statistics showed a 6.5-time growth year-on-year as in Jan 2014 inflation was only 0.6%.
This is the highest pace of inflation in Russia since February 1999, when consumer prices grew by 4.1% in one month.
According to Rosstat, consumer prices in Russia rose by 4.4% in January 2015, including food prices by 5.7%, as the annual growth rates of the two indexes reached 15.9% and 20.7% respectively.
