INVESTMENT IN FIXED CAPITAL GREW IN RUSSIA IN FEBRUARY

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MOSCOW, March 22 (RIA Novosti) - Investment in fixed capital grew 7.8% in Russia in February 2005 compared to February 2004 and reached 172,300,000,000 rubles ($1 equals 27.52 rubles), the Federal State Statistics Service (Rosstat) said in a report whose copy RIA Novosti received on Tuesday.

In February 2005, investment grew by 19% compared to January this year, while over the January-February period 2005 the figure rose 7.4% against the similar period last year.

In February 2004, investment in fixed capital rose by 13.8% compared to February 2003 and by 18.1% compared to January 2004. In the first months of 2004, investment grew by 13.3% against the similar period in 2003.

Prices of Russian-made industrial products rose 1.3% in February and thereby changed consumer prices somewhat, reports Rosstat.

The service said industrial product prices rose 1.8% since the start of 2005, whereas in February 2004, they rose by 7.5% since the year's start.

"In February 2005, the prices of industrial products grew by an average of 1.3%, which was by 6.3% due to the growth of production costs and electricity, gas, and water distribution tariffs," said Rosstat. "At the same time natural resources production costs declined by 1.6%, among them the costs of fuel and energy resources production by 2.2%. Oil production costs depreciated by 6.2%."

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