Inflation in March matched the economics ministry's expectations and proved to be lower than the 0.7% figure projected by the Central Bank of Russia for this month of the year. The government's inflation target for 2007 is 8%. Last year's inflation averaged 9%, down from 10.9% in 2005.
Inflation hit 1.7% in January and 1.1% in February 2007, the State Statistics Service said.
The prices of goods rose 0.6%, with food prices growing 0.8% and non-food prices climbing 0.4% while the prices of paid services provided to households went up 0.6% in March 2007, the statistics service said.
Growth in housing and utility rates was observed to slow down considerably in March, the statistics service said.
The minimum set of staple foods went up 1.2%, month on month, in March 2007 to an average of 1,542.5 rubles (about $59.3) per month, the statistics service said.
