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. Last Updated: 07/27/2016

1998 Inflation at 80%

MOSCOW -- Russian inflation could hit 80 percent this year, the State Statistics Committee said Thursday, underscoring the explosion in consumer prices since a financial crisis erupted in August.

Official figures put price rises at 76.5 percent from January to Dec. 21, adding that inflation could rise by as much as 10 percent in the last week of this month, Interfax reported.

Inflation was 11 percent in all of 1997, but prices took off after an Aug. 17 ruble devaluation and domestic debt default.