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Inflation in Russia down to record low

Inflation in Russia down to record low

11 January 2012 10:02 (UTC +04:00)

Baku - APA-Economics. Russia’s state statistics service reported an inflation rate of just 0.4 percent in December 2011, against 1.1 percent in the same month last year. On an annual basis, inflation was at 6.1 percent while it was 8.8 percent in 2010. This is the lowest inflation level since the Russian Federation was established in 1991.

In its final report for 2011 says Russia’s statistical authorities that inflation in the capital of Moscow was by 0.6 percent in December and 6.4 percent in 2011, slightly higher than the national average.

In St. Petersburg, prices grew by 0.5 percent in December 2011 and 5.9 percent on an annual basis.

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