Russian inflation slows in March

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Inflation in Russia slowed in March from February, but the rate was still higher in the first three months of the year from the same period last year, the state statistics agency said Monday.

Inflation in March fell slightly to 0.6 percent from 0.8 percent in February, the official figures showed.

But inflation ran at 3.8 percent for the first three months of the year, up from 3.2 percent in the same period last year.

Prices for some foodstuffs rose significantly. The highest consumer price rises in March were for basic cereals and beans, which went up 4.6 percent, and eggs, which went up in price by 4.1 percent.

The overall cost of a basket of basic foodstuffs rose 0.7 percent in March, but up 8.4 percent from the beginning of the year, to 2,845.1 roubles ($100.56).

© 2011 AFP

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