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Russian Consumer Inflation Slows to 11.8% in Jan

MOSCOW, Feb 10 (Reuters) - Annual inflation in Russia slowed further in January, but consumer prices rose in month-on-month terms, data showed on Friday.

Inflation has slowed since accelerating sharply after Russia began what it calls a "special military operation" in Ukraine on Feb. 24, a move that triggered sweeping Western sanctions and disrupted supply chains.

In January, annual inflation slowed to 11.77% from 11.94% a month earlier, data from the statistics service Rosstat showed. Analysts polled by Reuters expected a slowdown to 11.5%.

The Bank of Russia targets annual inflation at 4%.

Month-on-month, the consumer price index (CPI) rose 0.84% after a 0.78% increase in December. In March, the index jumped 7.61%, the biggest month-on-month increase since January 1999.

The central bank on Friday kept its key rate at 7.5% and its year-end inflation forecast at 5.0-7.0%.

Reporting by Alexander Marrow Editing by Gareth Jones

Source: Reuters

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