Russian December Inflation Rate Jumps to Year-High
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Russia’s inflation rate rose to the highest in 2010 in December as more expensive food and increasing consumer demand spurred price growth, putting pressure on the central bank to raise borrowing costs.
Inflation accelerated to 8.7 percent, compared with 8.1 percent in November, the Federal Statistics Service in Moscow said today in an e-mailed statement. The median estimate in a Bloomberg survey of 8 economists was for 8.6 percent. Prices advanced 1 percent from the previous month.