Russia’s Price Growth Spikes as Inflation Worries Persist
- Weekly inflation rose 0.42%, fastest growth since December
- Central bank has reacted to price pressures by hiking key rate
Russian weekly price growth accelerated by the most this year in the beginning of November as inflation continues to advance, posing a potential challenge for policymakers.
Prices increased by 0.42% from Oct. 31 to Nov. 7, according to Federal Statistics Service data published late Friday. That compared with a rise of 0.14% the week before and was the largest weekly gain since December of last year. The latest data covered a period of eight days instead of seven because Russia had a public holiday on Nov. 6.