Russia's industrial output fell 18.8% in January from the preceding month.The Federal Statistics Service data, however, showed that industrial output declined only by 0.2% in January compared with the same period a year earlier.
Industrial production showed no growth in 2013, which Deputy Economy Minister Andrei Klepach previously dubbed as "a year of missed opportunities."
Industrialists have repeatedly called for a cut to central bank interest rates but the latter has said it would consider monetary easing only after inflation slows to its target range.
Last week the Bank of Russia left its rates unchanged for the 16th time in a row but said it is ready to tighten policy if the recent ruble weakening begins to pose a risk of higher inflation.
Industrial production showed no growth in 2013, which Deputy Economy Minister Andrei Klepach previously dubbed as "a year of missed opportunities."
Industrialists have repeatedly called for a cut to central bank interest rates but the latter has said it would consider monetary easing only after inflation slows to its target range.
Last week the Bank of Russia left its rates unchanged for the 16th time in a row but said it is ready to tighten policy if the recent ruble weakening begins to pose a risk of higher inflation.