Russia Inflation Rate Edges Up Slightly in February

Russian annual inflation rate rose slightly to 6.2 percent in February of 2014, from 6.1 percent in the previous month, boosted by higher food and electricity cost.

Food prices accelerated to 6.3 percent yoy from 5.7 percent in January. Cost of butter rose 21.2 percent; milk prices increased 14.9 percent; eggs 11.8 percent and fruits and vegetables 10.1 percent. In contrast, prices of meat and poultry fell on the year by 1.8 percent. 

Additional upward pressures came from hotels services which recorded the highest annual increase (33.4 percent), followed by tobacco prices (28.2 percent), social protection (11.7 percent) and electricity, gas and other fuels (11.3 percent).

On a monthly basis, inflation accelerated to a 6-month high 0.7 percent boosted by higher prices of fruit and vegetables (5.1 percent). 

The cost of a minimum food basket in Russia increased 2.6 percent in February to 2998.3 rubles. 

Russia Inflation Rate Edges Up Slightly in February

Joana Taborda |
3/4/2014 12:38:11 PM