Russia raises forecast for 2012 inflation to 7%
2012-08-29 17:20:42
The Russian Economic Development Ministry has raised a forecast for the 2012 inflation from 5-6% to 7%, Deputy Minister Andrei Klepach said.
The forecast for inflation in 2013 has been raised from 4.5-5.5% to 5-6%. The forecast for a price increase in 2014 and 2015 has remained the same, at 4-5%.
The forecast for inflation has been raised mainly because of higher expectations of a growth in food prices caused by a relatively low crop yield in 2012 in comparison with 2011, Klepach said.
The forecast for the annual inflation growth rate in 2012 has been raised from 4.8% to 5.2%; in 2013, from 6.2% to 7.1%, and in 2014, from 5.2% to 5.4. The forecast for 2015 has remained unchanged, at 4.9%.
It was reported that inflation in 2011 stood at 6.1%, and its annual average was 8.4%.