Russia had 6.5% inflation in 2013, way above target – Rosstat

MOSCOW. Dec 31. (Interfax) – Russia had 6.5% inflation in 2013, the Federal State Statistics Service (Rosstat) said, quoting preliminary figures.

December inflation decelerated to 0.5%, from 0.6% in November. Inflation for the year was below the 6.6% seen in 2012. Russia had 6.1% inflation in 2011 and 8.8% in 2010 and 2009. December inflation was in line with the 0.5% that analysts predicted in a consensus forecast for Interfax.

Inflation for the year was a little above a forecast 6.4%.

The Central Bank originally set a target band of 5%-6% for the year, but this could not be met as food price growth accelerated in recent months.