Robert Besser
14 May 2022, 20:51 GMT+10
MOSCOW, Russia: Russia's weekly inflation rate has further eased after surging soon after Moscow began its invasion in Ukraine on 24th February.
The economic data was released this week by statistics service Rosstat.
In an effort to manage a shrinking economy and soaring inflation, the Russian central bank lowered its key interest rate from 17 percent in April to its current 14 percent, adding that it saw room for more reductions.
Inflation was 0.12 percent in the week to 6th May, down from 0.21 percent one week earlier, and well below the 2.22 percent figure seen in early March.
As Russia encountered logistics disruptions and increased volatility in the rouble, prices on nearly everything, from vegetables and sugar to clothes and smartphones, rose sharply in recent weeks.
According to Rosstat, year-to-date, consumer prices rose 11.78 percent, with annual inflation accelerating to 17.73 percent as of late April, the highest since 2002.
The Russian central bank, which has a target inflation of 4 percent, said the annual increase in consumer prices was on track to reach to 18 to 23 percent in 2022.
Get a daily dose of Kolkata Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kolkata Sun.
More InformationMILAN, Italy: Prosecutors in Milan are seeking a six year prison term for former Italian prime minister Silvio Berlusconi for ...
BUCHAREST, Romania: Romania's defense ministry has said that it will continue flying its remaining MiG-21 Lancer fighter jets until May ...
TIRANA, Albania: Following violent clashes between Dutch and Italian fans and the police ahead of this week's Europa Conference League ...
TOKYO, Japan: A new high-density electric battery developed in Japan has the potential to power electric airplanes, according to industry ...
ATHENS, Greece: After a sharp increase in attempted entries by migrants through its Aegean islands and land border with Turkey ...
HONG KONG: In his first public remarks since he was arrested under Hong Kong's National Security Law earlier this month, ...
NEW DEHLI, India: In a move expected to end the country's exports of the raw materials needed to manufacture steel, ...
NEW YORK CITY, New York: The Wall Street Journal has reported that Apple has told some of its contract manufacturers ...
LONDON, England: Citing a U.S. official, the Financial Times reported this week that during the Quad summit in Tokyo, the ...
New Delhi [India], May 29 (ANI): India reported 2,828 new COVID-19 cases, taking the cumulative infection tally to 4,31,53,043, informed ...
New Delhi [India], May 29 (ANI): On the occasion of International Day of UN Peacekeepers, External Affairs Minister Dr S ...
Doha [Qatar], May 29 (ANI): Indian men's football team suffered a 0-2 defeat at the hands of Jordan at the ...