Inflation Hits 10-Month Low

Russia's inflation rate reached a 10-month low in December as gasoline prices fell, though the government still missed its annual target for the eighth time in nine years.

The rate dropped to 13.3 percent from 13.8 percent in November, the State Statistics Service said Sunday. Monthly consumer price growth slowed to 0.7 percent from 0.8 percent in November.

The Central Bank had expected that inflation would accelerate to 13 percent in 2008 from 11.9 percent the previous year. The rate reached a five-year high of 15.1 percent in May, as oil and food prices advanced. The price of Urals crude, the country's main export blend, fell 69 percent in the second half of the year.