MOSCOW, January 9 (RIA Novosti) - Inflation in Russia stood at 11.9% in 2007, despite forecasts that it would exceed 12%, the country's statistics service said on Wednesday.
The government's initial target of 8% for last year was smashed by rising food prices, and officials at different levels predicted annual inflation would exceed 12%.
Inflation in 2006 was 9%, in line with government targets.
Russia's finance ministry projects inflation will reach 8.5% in 2008.
