Annual inflation in Russia accelerated to 17.62 percent as of April 15, its highest since early 2002 and up from 17.49 percent a week earlier, the economy ministry said on Wednesday, as the volatile rouble sent prices soaring amid Western sanctions.
Prices on nearly everything from vegetables and sugar to clothes and smartphones have risen sharply in recent weeks after Russia on Feb. 24 began what it calls “a special military operation” in Ukraine.
But weekly inflation in Russia slowed after a big rise in the past few weeks, data from statistics service Rosstat showed on Wednesday, giving the central bank reason to consider cutting rates at its board meeting on April 29.
The central bank has said it may cut its key interest rate from 17 percent at the upcoming board meetings and will try not to lower inflation, which it targets at 4 percentin annual terms, by any means. — Reuters
