Statistics confirms Russia’s 2016 inflation estimate at 5.4%

MOSCOW, Jan 10 (PRIME) -- Russia’s annual inflation slowed down to 5.4% in December 2016, and amounted to 0.4% in month-on-month terms, the Federal State Statistics Service said in a statement on Tuesday.

In 2016, food prices increased 4.6%, while non-food prices went up 6.5%. Prices for services rose 4.9%, the service said.

In December 2016, prices for fruit and vegetables grew 23.7% and 8.3%, respectively, while prices for grapes rose 5.3%, for potatoes 3.1%, for onions 2.2%, and for beetroot 1.4%. But oranges became 10.6% cheaper, while prices for lemons fell 10.3%, for bananas 3.8%, and for pears 1.2%.

Prices for cheese went up 1.9%, and prices for caviar and fish products rose 0.7–1.3%. But prices for salt, flour, buckwheat, rice, millet, peas, and beans decreased 0.1–1%.

An average price of the minimum market basket stood at 3,702 rubles as of late December 2016, which is a 0.9% increase on the month and a 3.5% increase on the year.

(59.8961 rubles – U.S. $1)

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