January 23, 2019 18:07
Inflation in Russia 0.2% in week Jan 15-21, annual quickened to 4.9% (Part 2)
MOSCOW. Jan 23 (Interfax) - Russia had 0.2% inflation for the week of January 15-21, 2019, the Federal State Statistics Service (Rosstat) said.
Russia had 0.2% inflation for the holiday-shortened week of January 10-14 also. Prices rose 0.5% in the period January 1-9, a long week due to the New Year and Christmas holidays in Russia. They grew 0.9% in the first 21 days of the year.
The price growth at the start of the year was expected and was stoked by the VAT hike from 18% to 20% and higher public transport fares and the first wave of indexation of utility charges. Due to the higher VAT, utilities will go up twice this year: by 1.7% on January 1 and 2.4% on July 1.
Average daily price growth in the first 14 days of 2019 was 0.042% compared to 0.013% in the first 21 days of 2018. On this basis, annualized inflation quickened to 4.9 by January 21 this year, from 4.7% on January 14, 4.6% on January 9 and 4.3% at the end of December (4.26% before rounding). The last time annual inflation was as high was February 2017.
In the latest week, prices rose for millet - 1.0%, mutton and flour - 0.6%, semi-smoked sausage, regular sausages and frankfurters, vodka, pasta products and chocolate candies - 0.4%, boiled sausage butter, sour cream, buckwheat and tea - 0.3%, but fell for eggs - 1.3% and pork - 0.3%.
Fruit and vegetable prices averaged up 0.6%, including cabbage - 2.5%, tomatoes - 2.1%, carrots - 1.1%, potatoes and onion - 0.9% and apples - 0.8%, but fell for cucumbers - 2.4%.
Gasoline prices went up 0.1% and diesel prices were practically unchanged.
Housing and utility charges rose 0.2%-0.4%.
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