Russia’s inflation rate in 2013 (December on December) reached 6.5 percent, according to the updated information of the Russian State Statistics Service.

According to the information, Russia’s consumer prices went up by 0.5 percent in December 2013. Of them, the food prices gained 0.8 percent (7.3 percent versus December 2012), non-food prices grew by 0.2 percent (4.5 percent on December 2012) and service prices increased by 0.6 percent and eight percent respectively.

The Inflation indicators equaled to the recent forecasts of the Russian Economic Development Ministry. However, the year-on-year inflation exceeded the ministry’s initial forecast of six percent. The indicator for 2014 amounts to 4.5-5.5 percent with the target of 4.8 percent.

In 2012, Russia’s consumer prices in December went up by 0.5 percent and gained 6.6 percent since the beginning of the year.

Moreover, the statistics says that average inflation rate in 2013 (January-December 2013 on the same period of 2012) amounted to 6.8 percent as compared to the Economic Development Ministry’s forecast of 6.7 percent.

In December 2013, six Russian regional registered the growth of average consumer prices for goods and services by 0.9 percent and more, including those in the Republic of Ingushetia – by 1.2 percent (mainly due to the hike in food prices by 2.3 percent over a month).

In Moscow, consumer prices grew by 0.5 percent in December and 6.2 percent in 2013. In St. Petersburg, the prices went up by 0.4 percent and 6.7 percent respectively.