Russia's consumer price growth totaled 1% during the first nine days of 2007

Wednesday, October 28, 2020

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Russia's consumer price growth totaled 1% during the first nine days of 2007, according to a Finance Ministry report to the government made available Tuesday. The report, prepared in conjunction with the economics and energy ministries, the national financial watchdog, and the Central Bank, says inflation is expected to reach 2.2% for the whole of January, down 0.2% year-on-year. Last year's inflation aggregated 9%, down from 10.9% in 2005, according to the national statistics service. A forecast for the country's social and economic development until 2009 prepared by the Finance Ministry, projects inflation at 6.5%-8% in 2007, 4.5-6% in 2008, and 4-5.5% in 2009. However, late last year the economics ministry gave higher consumer price growth projections of 7% for 2008, and 6.8% for 2009. According to the ministry, inflation will slow down to 6.5% in 2010.

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