Economics
Russian Inflation Spike Fades Again as Consumer Demand Takes Hit
- Price growth slows for fifth straight week but stays elevated
- Russian prices gained about 11% since the begining of the year
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Russian inflation slowed for the fifth week in a row as the price spike from the Ukraine invasion faded amid softening consumer demand.
Consumer prices rose 0.66% in the seven days ended April 8, down from 0.99% in the previous week, the Federal Statistics Service said Wednesday. Food prices, including sugar, which was the focus of panic buying last month, continued to rise.