Inflation and Monetary Policy in January 2013

Natalia Luksha
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Natalia Luksha: Gaidar Institute for Economic Policy

Russian Economic Development, 2013, issue 3, 9-12

Abstract: In January 2013 the seasonal growth in prices for fruit and vegetables, as well as the planned in¬crease in excise duties have contributed to inflation by two-fold, as compared with December 2012: CPI for the month made 1%. As a result, the inflation rate in annual terms has reached 7.1%. In February, the growth rate of consumer prices has slowed down: in 18 days of the month it made 0.3%. According to tentative estimates of the Ministry of Economic Development of Russia, the net outflow of capital from the country at the beginning of 2013 has accelerated, having reached in January $8-10bn. On February 12 the Bank of Russia has decided to establish a uniform rate for mandatory reserves for all categories of liabilities to credit institutions in the amount of 4.25%.

Keywords: Inflation; Monetary Policy (search for similar items in EconPapers)
JEL-codes: E60 E61 E62 E64 (search for similar items in EconPapers)
Date: 2013
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