Russian inflation jumped to the highest level in more than four years in March, adding pressure on the central bank to keep raising interest rates. Annual inflation accelerated to 5.8% in March, the Federal Statistics Service reported Tuesday, in line with forecasts but well above the central bank’s 4% target. “Inflation risks are quite substantial and they are not only driven by external inflation, but also by domestic inflation,” Bank of Russia First Deputy Governor Ksenia Yudaeva told a conference Tuesday before the latest report was released. As in several other major emerging markets, Russia’s central bank has ... (full story)