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. Last Updated: 07/27/2016

Inflation Hits 6.5% on Food Prices

Russia's inflation rate in the year through May 12 was 6.5 percent compared with 6.8 percent in the same period last year, the State Statistics Service said Thursday.

Consumer prices climbed 0.2 percent between May 5 and May 12 after rising the same amount in the previous week, the service said.

The cost of frozen fish rose 0.6 percent in the week, while black tea prices gained 0.5 percent. Prices for gasoline and diesel fuel slid 0.6 percent.

Russia's inflation rate fell more than expected in April to 13.2 percent as the economy slowed price growth and the effect of the ruble's devaluation ebbed, the service said Wednesday.

Producer prices, an early indicator of inflation, fell less than expected in April as price growth slowed and industrial output shrank, the service also said. The cost of goods leaving factories and mines dropped an annual 4.1 percent after falling 2.8 percent in March, it said.