The chief banker said inflation reached 8.5% for the period June 2006-June 2007, which is lower than the figure for 2006 at 9%.
Ignatyev said inflation had been spurred by soaring fruit and vegetables prices in the past few months, which increased 12.2% in the first half of 2007 against a 0.6% decrease year-on-year.
Speaking of consumer prices Igantyev said their growth stood at 1% in June 2007 and 5.7% in January-June. Imports increased almost 39% in the first half of 2007 to $97 billion from $70 billion year-on-year.
The real effective ruble rate increased 3.2% in the first six months of 2007 against 7% in the same period last year, Ignatyev said.
Earlier reports said Russia's money supply has risen 19% since the start of the year and 17.3% year-on-year.
The Central Bank said the money supply reached 10.7 trillion rubles ($417 billion) as of June 1 against 8.9 trillion rubles ($350.5 billion) as of January 1.
