Russia’s Ministry of Economic Development cuts 2011 inflation forecast to 6.2–6.5%
2011-12-12 12:49:54
Russia’s Economic Development Ministry has cut its consumer price inflation forecast for 2011 to 6.2–6.5%, with a 0.6% increase in December, Deputy Minister Andrei Klepach said Monday.
“Regarding inflation, the range now stands at 6.2–6.5%,” Klepach told reporters, adding that it was an adjusted forecast and that the ministry would not change the budget parameters.
“We are likely to be closer to the lower end of the scale, with December at 0.6%,” he said.
The ministry had previously forecast the inflation for 2011 at 6.5–7.0%.
According to the Russian statistics service, inflation remained unchanged in the last month at 0.1%, or 5.7% since start of the year.