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Russia registers record low inflation in 2011
Last Updated(Beijing Time):2012-01-10 23:29

Russia's consumer price inflation stood at 6.1 percent in 2011, a record low in the post-Soviet period, Russia's Federal State Statistics Service (Rosstat) reported on Tuesday.

"The consumer price index was 0.4 percent in December (2011) and 6.1 percent for the full year, the lowest figure since 1991," the Rosstat said in a statement.

The figure was lower than previous expectations. Earlier, the Russian Economic Development Ministry has expected the inflation to stand at 6.2-6.4 percent in 2011.

Local economic analysts believed that significantly cheap prices on vegetables and grains have attributed to the record low figure. In 2011, Russia's grain production recovered from a severe drought in summer 2010, when grain production shrank to 60.9 million tons, lower by 37.3 percent compared to 2009.

For years, the Russian government has adopted measures to achieve low-digit inflation, in a bid to create a favorable investment climate.

Source:Xinhua 
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