The country’s statistics agency reported Wednesday that consumer prices rose 0.9 percent last week.
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Slumping oil prices have put Russia's economy on course for a sharp recession next year, its finance minister said Friday, as authorities scaled up their bailout for the first bank to succumb to the recent ruble crisis.The economy is slowing sharply as Western sanctions over the Ukraine crisis deter foreign investment and spur capital flight, and as a slump in oil prices severely reduces Russia's export revenues and pummels the ruble.The ruble's will inevitably lead to higher inflation next year, which after years of stability threatens President Vladimir Putin's reputation for ensuring Russia's prosperity.The Russian currency slipped Friday after hitting its strongest levels in more than three weeks earlier in the day.VTB could receive 250 billion rubles and Gazprombank 70 billion rubles to help fund investment projects, including those planned by Russian Railways, the finance minister added.
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