Monday, July 10, 2006

Economy: Russia expects inflation this year not to exceed 9%

Russian Deputy Prime Minister Alexander Zhukov, has said the federal government hopes that inflation will not exceed 9% in Russia this year. He was speaking at a regional cooperation forum in Geneva on Sunday.

"We have grounds to believe that the inflation will keep at 8.5-9% this year," he told reporters.

ITAR-TASS reports that for the first time in the past 12 months, the inflation went under 10% to 9.2% on July 1, Zhukov said. "This dynamics gives us hope that the three-year forecast is realistic and may be fulfilled," he said.