‘Out of Control’: Russia’s CPI Inflation Up Again to 9.5% in December
By Ben Aris for bne IntelliNews
Russia’s runaway consumer price inflation (CPI) made more gains in December, rising to 9.5% y/y, as the Central Bank continues to lose the fight to reign in rising prices.
“The rise in Russian inflation to 9.5% y/y in December is likely to be followed by an increase to more than 10% early this year. The Central Bank has set a high bar for further tightening but we think the balance remains tilted towards another interest rate hike this quarter,” Liam Peach, the senior emerging market economist with Capital Economics, said in a note.
