16 April 2004 14:10
Inflation rate to reach 1% in April
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The Economic Development and Trade Ministry of Russia forecasts that the inflation rate will reach about 1 percent in Russia in April. Deputy Economic Development and Trade Minister Arkady Dvorkovich gave this forecast to reporters today. He remarked that the main factor in the inflation was an increase in public transport fares in big cities of Russia.
According to a report by the Federal State Statistics Service, in March 2004 the inflation rate reached 0.8 percent. Consumer prices have grown by 3.5 percent in Russia since the beginning of 2004. The average daily consumer price index was 0.024 percent in March.
The base consumer price index, which excludes uneven short-term changes in prices under the influence of specific administrative and seasonal factors and events, reached 100.7 percent in March and 102.4 percent since the beginning of this year.
The Finansovye Izvestia newspaper points out that the rate of growth in individual incomes has exceeded the inflation rate this year. For example, the average per capita income reached RUR5,390 ($188.40) in Russia in February, exceeding the corresponding figure for January by 4.6 percent. The average per capita income has increased by 22.6 percent, compared to that of February 2003.
The average wage grew by RUR60 ($2.10) to RUR5,992 ($209.44) in February (a 26-percent increase, compared to the level of February 2003). The average pension rose by 17.5 percent to RUR1,764 ($61.66). The total sum of individual incomes in Russia grew by 22.6 percent to RUR769.9bn ($26.91bn), and individual expenditures increased by 21.9 percent to RUR746.4bn ($26.09bn).
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