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Russia posts 11.7% inflation in 2004 - Rosstat

January 11, 2005 | Interfax

Inflation was 11.7% in Russia in 2004 (12.0% in 2003), with consumer prices rising 1.1% in December alone (also 1.1% in December 2003), the Federal State Statistics Service (Rosstat) reported on Tuesday.

Inflation thus fell beyond the official Russian government forecast of 8%-10% for the year. The 12.0% inflation of 2003 was the first time since 1997 (when inflation was 11% against the federal budget law's prescribed 11.8%) that the inflation level fell within the government target of 10%-12%.

Inflation in Russia was 15.1% in 2002 (the government having forecast 12%-14%), against 18.6% in 2001, 20.2% in 2000, 36.5% in 1999, 84.4% in 1998, 11.0% in 1997, 21.8% in 1996, 131.3% in 1995, 215.1% in 1994, 839.9% in 1993 and 2508.8% in 1992.

The base consumer price index (excluding short-term price blips caused by occasions of an administrative, event-based or seasonal nature) was 110.5% for the year 2004, 101.0% for December 2004.

Goods prices rose 10.3% in 2004 (9.8% in 2003). [

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