Weekly May inflation reported at 0.12 percent in Russia

Robert Besser
14 May 2022, 20:51 GMT+10

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

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.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Ohio Standard.

More Information

53 ℉

Partly Cloudy in Columbus

US

Section

US to get tough as drone disrupts Pittsburgh airport

WASHINGTON D.C.: The Federal Aviation Administration has said that a drone sighting disrupted some flights at Pittsburgh International Airport this ...

Brain implant company Neuralink valued at $5 billion

FREMONT, California: Elon Musk's brain implant startup Neuralink, valued at some $2 billion during a private fundraising round two years ...

New Oregon gun law being challenged in court case

PORTLAND, Oregon: A federal trial has begun in Portland, Oregon examining the constitutionality of a stringent gun control law approved ...

After removing Columbus statue, Philadelphia sued for return

PHILADELPHIA, Pennsylvania: Philadelphia Mayor Jim Kenney and members of the city's historical commission have been sued by a group which ...

Area evacuated as wildfire burns thru Michigan

LANSING, Michigan: Michigan's Department of Natural Resources said by a wildfire in the state has burned through more than 3 ...

Official: airlines industry acting to prevent cancellations

ISTANBUL, Turkey: In an interview with Reuters, Willie Walsh, director-general of the International Air Transport Association, (IATA), said airlines are ...

International

Section

Movie Review

The Texas Chain Saw Massacre (1974) (4K UHD)

Texas Chain Saw Massacre