Russia's January CPI may double to about 2% - Kremlin aide
2011-01-21 17:54:53
Russia's consumer price index is likely to rise to about 2% in January 2011 from 1% in December 2010, presidential economic aide Arkady Dvorkovich said on Friday.
"The CPI in January will stand at about 2%, it is difficult to say whether it'll be higher or lower," Dvorkovich said.
In January 2010, the index reached 1.6%.
Dvorkovich's forecast is lower than a preliminary estimate by the Economic Development Ministry, which expects January CPI at 2.1-2.3%. The Federal State Statistics Service said on Wednesday that prices had risen 1.4% since the start of the month to January 17 compared with 1.2% in the same period in 2010.
"The measures the government planned (to cut CPI), can not start working in January by definition. To understand if the measures discussed in December are working or not, we should look at quarterly results, not monthly results," Dvorkovich said.
At the end of last year, President Dmitry Medvedev asked the government to work out measures to cut inflation which last year hit 8.8% exceeding government expectations.
The central bank had not yet voiced plans regarding its refinancing rate movements.
The government expects 2011 inflation to hit 6-7% and Dvorkovich said it had no plans yet to revise the figures.