Weekly inflation in Russia slowed to 0.99% in the week to April 1 from 1.16% a week earlier, taking the year-to-date increase in consumer prices to 9.99%, data from statistics service Rosstat showed on Wednesday.

In the same three-month period a year ago, consumer prices rose 2.72%.

Inflation in Russia has accelerated sharply in the past few weeks as the rouble's fall to an all-time low boosted demand for a wide range of goods from food staples to cars on expectations prices will rise even more.

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Russia's central bank warns of an imminent spike in inflation and a looming economic contraction.
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In the week to April 1, prices on nearly everything from vegetables and sugar to clothes and smartphones kept on rising further but at a slower pace than in previous weeks as the rouble recovered from record lows hit in March.

The central bank, which targets annual inflation at 4%, held its key rate at 20% in March and warned of an imminent spike in inflation and a looming economic contraction.

Nearly 75% of people polled online by Finam brokerage expected 2022 inflation to exceed 20% but analysts say further inflationary risks will be limited by a drop in real incomes, the financial firm said on Wednesday.