OREANDA-NEWS. January 12, 2010. In December 2009, CPI amounted to 0.9%, m/m, reaching 12.3%, y/y as the cumulative CPI in 2009. Among the main CPI contributors were the growth in food prices (1.7%, m/m) and alcoholic beverages prices (0.8%, m/m). At the same time, PPI was equal to 1.0%, m/m (14.3%, y/y in 12M09), mainly due to an increase in the tariffs for utility distribution (3.2%, y/y).

Millennium Capital: the CPI indicator is slightly below than our forecasts (13.2% in 12M09) because of an unrealized demand pressure on imported goods on the eve of the New Year. In the light of a high probability devaluation pressure, the natural gas price hikes for households and the food price growth, Millennium Capital expects inflation to exceed 10% indicator in 2010.