
Russian inflation reached 16.7 percent in February as lower oil prices and Western sanctions over Ukraine caused the biggest jump in prices over one year since 2002, the state statistics service said Thursday.
Prices rose a further 2.2 percent in February after leaping 3.9 percent in January -- a rate unseen in 16 years -- as the economy remains fragile after the ruble at the end of last year lost half its value against the dollar.
The most dramatic rise was in food prices, soaring 23.3 percent over the past year and 3.3 percent in February alone.
This increase resulted from Moscow's ban on European Union and US food imports in retaliation for sanctions slapped on Russia over its backing of rebels in eastern Ukraine.
Basic vegetables consumed regularly in Russian households were among the worst-affected with onions, carrots and beetroot increasing by around 10 percent each in February.
The economy ministry is expecting inflation to peak at 17 percent by April, while the annual rate for 2015 has been forecast at 12.2 percent.
Russia's inflation was estimated at 11.4 percent in 2014, the highest level since the financial crisis of 2008, after coming in at 6.5 percent in 2013.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:56 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 14:11 2018 Thursday ,08 November
Greek minister, Russian ambassador discuss possible investment projectsGMT 13:42 2018 Wednesday ,07 November
PM says Russian-Chinese trade turnover may reach $200 blnGMT 11:15 2018 Wednesday ,07 November
Top U.S. diplomat visits Pakistan to discuss economic cooperationGMT 13:53 2018 Thursday ,01 November
Alrosa to sell 127 large gem-quality rough diamonds at an auction in IsraelGMT 10:59 2018 Tuesday ,30 October
Trade turnover between Russia and Japan grows by over 17% in 2018Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor