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23 Jan, 2007 23:50

Inflation statistics at odds with average Russian’s sentiments

Inflation statistics at odds with average Russian’s sentiments

Inflation in Russia was around 9% in 2006 – that is the lowest rate over the past decade. But that is according to official statistics.  An average Russian is seeing a completely different picture.

Over 1,500 people across the country were asked what their personal inflation rate was. Only 1/6 agreed with official statistics.

Around 1/3 said prices grew between 10% and 20%. And each second respondents said prices grew by 20% or more.

Rosstat statistical service measures inflation basing on the consumer basket where services account for just over 20% of the index.

But actually services are growing at the highest rate. And that is why, economists say, the statistics are not very accurate.