Consumer Price Index (CPI) amounted to 101.6% in January 2010, down from 102.4% in January 2009, according to the Russian Federal Statistics Service (Rosstat). In five of Russia’s federal districts, the increase in consumer prices amounted to 2.4% or more. The highest inflation was registered in the Novgorod and Ivanovo regions - at 2.7% and 2.6%, respectively, due primarily to a rise in tariffs for services (up 7% and 6.2%). In Moscow and St Petersburg, consumer price index amounted to 102.2% and 102%, respectively. Prices on fruits and vegetables demonstrated the highest increase in January, as well as at the end of 2009. At the same time, fish filet, wheat flour and caviar prices fell 0.6%-1.5% on average. In Russia the weekly CPI report was published yesterday and confirmed that price pressures remain in the economy especially with the gain in M2 money supply in December. Lower inflation is a priority for the government and one reason why the Central Bank is unlikely to intervene to stop ruble appreciation anytime soon, Chris Weafer, chief strategist at Moscow’s Uralsib bank, wrote in a note to investors on 4 February.