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Russian Inflation Slows in December as Risks Continue to Mount

  • Inflation slowed to 12.9% in December, amid 13% forecast
  • Increased inflationary risks may delay monetary policy easing

Russia’s inflation decelerated to its slowest pace this year, even as the weakening ruble and an embargo on Turkish products temper both the slowdown and arguments for the central bank to continue easing monetary policy.

Consumer-price growth slowed to 12.9 percent from a year earlier in December, compared with 15 percent in November, the Federal Statistics Service in Moscow said in a statement Thursday, citing preliminary data. The median of 14 estimates in a Bloomberg survey was for 13 percent. Prices increased 0.8 percent from the previous month.