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  Monday, July 22, 2019
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Gref said Monday he did not favor the finance minister's proposal to change the way inflation was calculated
Russia's economic development and trade minister said Monday he did not favor the finance minister's proposal to change the way inflation was calculated. Finance Minister Alexei Kudrin had urged on two previous occasions for change in method used for calculating inflation, which he claims produces an artificially low figure. The figure is currently calculated as a yearly aggregate of month-on-month inflation. The finance minister proposes calculating a year-on-year figure for each month, and basing the annual figure on this data. On March 29, he said the current method quoted annual consumer price growth at 10.9% for 2005, whereas the real figure should have been 12.7%. However, Gref insisted that under the alternative method, large year-on-year jumps in particular months would be exaggerated in the final figure. "It is correct to calculate price growth from January 1 to December 31," Gref said.
Print Gref said Monday he did not favor the finance minister's proposal to change the way inflation was calculated Bookmark Gref said Monday he did not favor the finance minister's proposal to change the way inflation was calculated

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