Russia’s inflation in November came at 0.37% month on month, implying 11.98% year-on-year price growth, which came in slightly higher than analysts’ forecasts based on weekly statistics (BCS GM forecast: 11.8% y/y). “However, it may indicate that the price growth is returning to its monthly dynamics, which is more relevant to the CBR’s annual 4% inflation target,” BCS GM said in a note. (chart) Monthly data suggest that the main contributor to November inflation was services prices, which rose 0.76% m/m. As bne IntelliNews reported, Russia’s service PMI improved in November, but still remains …