State Statistics Committee posts inflation figures

The inflation in Russia was 0.7 percent in July 2003 and it has amounted to 8.7 percent since the beginning of 2003, the Russian State Statistics Committee reported. According to the Committee, the inflation pace was 0.1 percent lower in July than it was in June 2003. The average daily growth in prices was 0.023 percent in July 2003.

Food prices added 0.4 percent last month, non-food prices advanced by 0.5 percent, prices of services increased by 1.2 percent.

The inflation exceeded 1.5 percent in 7 Russian regions in July 2003. In the Irkutsk region prices surged by 2.2 percent, while services became 6.2 percent more expensive.

In Moscow prices went up by 0.4 percent in July (9.2 percent since the beginning of 2003); in St. Petersburg the inflation was 0.6 percent last month (10 percent since the beginning of 2003).