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Inflation gains pace in Russia
RBC, 28.03.2008, Moscow 10:59:11.Inflation is expected to reach 1-1.2 percent in Russia in March. This projection was made in a monitoring report on the macroeconomic situation in Russia for January-February 2008. As of March 17, Inflation stood at 0.6 percent. Consumer prices rose 1.2 percent (up from 1.1 percent a year earlier) in February and 3.5 percent over the first two months of 2008 (up from 2.8 percent over the same period of the previous year). The Economy Ministry attributes the acceleration in the inflation rate in early 2008 to faster growing food prices. In January-February, the price increase doubled that for the same months a year earlier (3.6 percent against 1.8 percent), contributing 1.4 percentage points to total inflation for the year to date.
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