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
AvtoVAZ PJSC raised prices on its Lada brand cars, the Autonews.ru news site reported last week.
Photographer: Alexander Zemlianichenko Jr.This article is for subscribers only.
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.