Economics

Inflation reaches 16.9% in Russia

7 april 2015 | 13:53

Food prices have significantly increased in Russia comparatively to last year.

Продуктовый магазин
Food prices have significantly increased in Russia
Consumer price index (CPI) growth reached 16.9% in Russia comparatively to the previous year, according to Rosstat.

Thus, food prices have increased by 1.6% for the previous month in Russia, writes Reuters.

Fish and seafood have seen the most significant increase in prices. Thus, processed frozen fish (except salmon species) rose by 4.2% and fillet fish – by 3.7%.

Cereals had the biggest prices' growth – 3.4%.

Also, prices for certain types of fruits and vegetables had a significant increase. Thus, garlic had 21.5% price increase, bananas – 6.6%, frozen nuts – 5.5%. Prices for oranges increased by 3.7%.

Meat and poultry price, however, declined by an average of 0.3% and 0.5% respectively.

In March this year, a significant prices' growth was observed for certain types of medicines and medical supplies. Clothes' prices also had an increase.

Read more: Investment banks expect higher inflation and GDP decline for Russia

Minister of Economic Development of Russia Alexey Ulyukayev suggested that inflation would stay at about 17% for nearly one-two months and then would begin to decline.

Earlier, it was reported that inflation in Ukraine reached 11% solely for the previous month. An annual prices' growth is more than 45% comparatively to previous month.

Source: Reuters

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