05:06 GMT +319 October 2018
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    Inflation in Russia 1.6% in Oct., 9.3% in first 10 months

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    MOSCOW, November 6 (RIA Novosti) - Inflation in Russia in October was 1.6% against 0.3% last October, and 9.3% in the first ten months of 2007 compared with 7.5% year-on-year, the state statistics service said on Tuesday.

    Inflation in January-October already exceeds last year's rate of 9%, the service said. Growing food prices have been the main driver for inflation this year partly influenced by global hikes in food prices. Russia imports between 20% and 40% of foodstuffs.

    "October saw a further rise in prices for vegetable oil, which appreciated 26%-30%," the statistics service said. Cheese and eggs increased in price by 23.9% and 20.9% respectively in October.

    The government has been trying to curb rising food prices by reducing import duties, subsidizing borrowing rates for purchases of agricultural produce and seeking an agreement on price freezes with businesses.

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