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Russia's year-to-date inflation reaches 9.5%

Online reported that the latest weekly data released by the Russian National Bureau of Statistics on Wednesday showed that Russia's CPI rose by 0.33% in the week ended December 23, and the inflation rate this year has reached 9.5%. The data follows a surprise decision by Russia's central bank last week to keep key interest rates unchanged at 21%. Regulators said recent tightening policies have created favorable conditions for the target of lowering inflation to 4%. Andrei Gangan, head of the monetary policy department of the Russian Central Bank, said that Russia's full-year inflation rate will be between 9.6% and 9.8%.

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