Russia's inflation accelerated to 4.91 percent in 2020 from 3.04 percent a year earlier, according to the final data of the country's statistics body, Rosstat
MOSCOW (Pakistan Point News / Sputnik - 12th January, 2021) Russia's inflation accelerated to 4.91 percent in 2020 from 3.04 percent a year earlier, according to the final data of the country's statistics body, Rosstat.
"In December 2020, compared to November 2020, the consumer price index was 100.8%, compared to December 2019 - 104.9% (in December 2019 - 100.4%, compared to December 2018 - 103%)," it said.
Thus, the final data for the full list of goods and services coincided with the preliminary assessment published by Rosstat on December 31.
The Russian Economic Development Ministry expected inflation in December in the range from 0.6-0.7 percent, and from 4.6-4.8 percent for the year. According to Rosstat, after the lifting of the coronavirus-related restrictions in the country, annualized inflation accelerated to 3.4 percent in July, and to 3.99 percent in October, and to 4.42 percent in November.
According to the Bank of Russia forecast, the inflation was expected in the range from 4.6-4.9 percent in 2020, then from 3.5-4 percent in 2021, and then it will be close to the target level of 4 percent.
The consumer price index for food in Russia increased by 6.69 percent in 2020, for non-food products by 4.79 percent. Prices for services increased by 2.7 percent, according to Rosstat.