23 January 201909:29
Russia: Inflation Rate Speeds Up to 4.7% A Year
UrBC, Moscow, January 23, 2019. Russia’s inflation rate rose from 4.3% in 2018 to 4.7% a year on January 14, 2019, the Economic Development Ministry’s report on inflation in January 2019 indicates. ‘Two inflation-boosting factors came into effect in January 2019, namely, the VAT increase from 18% to 20% and an increase in the cost of utilities by 1.7% starting January 1. As a result, the inflation figures stood at 0.65% on January 1-14, 2019 compared with 0.21% a year earlier. As of January 14, the inflation rate was estimated to speed up to 4.7%,’ the report states. The ministry’s analysts