Moscow, Feb 6 (IANS) Russia’s inflation rate in January has hit a 16-year-old high record, according to statistic agency Rosstat.
The agency said Thursday that inflation rate in January amounted to 3.9 percent, comparing to 2.6 percent in December 2014. The rate was considerably higher than Rosstat’s forecast of 2.7 percent and economists’ consensus outlook of 2.6, Xinhua reported.
The statistics showed a 6.5-time growth year-on-year as in Jan 2014 inflation was only 0.6 percent.
This is the highest pace of inflation in Russia since February 1999, when consumer prices grew by 4.1 percent in one month.
According to Rosstat, consumer prices in Russia rose by 4.4 percent in January 2015, including food prices by 5.7 percent, as the annual growth rates of the two indexes reached 15.9 percent and 20.7 percent respectively.