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Inflation and Monetary Policy in January 2013

Author

Listed:
  • Natalia Luksha

    (Gaidar Institute for Economic Policy)

Abstract

In January 2013 the seasonal growth in prices for fruit and vegetables, as well as the planned in¬crease in excise duties have contributed to inflation by two-fold, as compared with December 2012: CPI for the month made 1%. As a result, the inflation rate in annual terms has reached 7.1%. In February, the growth rate of consumer prices has slowed down: in 18 days of the month it made 0.3%. According to tentative estimates of the Ministry of Economic Development of Russia, the net outflow of capital from the country at the beginning of 2013 has accelerated, having reached in January $8-10bn. On February 12 the Bank of Russia has decided to establish a uniform rate for mandatory reserves for all categories of liabilities to credit institutions in the amount of 4.25%.

Suggested Citation

  • Natalia Luksha, 2013. "Inflation and Monetary Policy in January 2013," Russian Economic Development, Gaidar Institute for Economic Policy, issue 3, pages 9-12, March.
    • Handle: RePEc:gai:recdev:87
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    More about this item

    Keywords

    Inflation; Monetary Policy;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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