Consumer prices in Russia jump nearly 9% year-to-date

Weekly inflation in Russia slowed to 1.16% in the week to March 25 from 1.93% a week earlier, taking the year-to-date increase in consumer prices to 8.91%, data from statistics service Rosstat showed on Wednesday.

Inflation in Russia has accelerated sharply in the past few weeks as the rouble's fall to an all-time low boosted demand for a wide range of goods, from food staples to cars, on expectations that their prices will rise even higher.

In the week to March 25, prices on nearly everything from baby food to pharmaceuticals rose further but at a slower pace than in the previous weeks. Please download WikiFX for more forex news.

The central bank, which targets annual inflation at 4%, held its key rate at 20% in March and warned of an imminent spike in inflation and a looming economic contraction.