SOCHI, September 19 (RIA Novosti) - The 2009 inflation forecast has been revised in Russia to 11%-12% from 11.6%-12% on the back of hopes that inflation will slow in the country, the economics minister said on Saturday.
According to the latest data from the Russian State Statistics Service, inflation has been 8.1% in Russia since the start of the year. The country also posted a zero inflation and deflation over the past four weeks.
"We have revised the 2009 [inflation] forecast to 11%-12%," Economic Development Minister Elvira Nabiullina announced at the final day of an international investment forum in the Russian Black Sea resort of Sochi.
However, the minister made a mixed prediction for the rest of the year, warning of a number of inflation risks, including those related to global oil and raw sugar prices.
In a report on the government's anti-crisis measures to the State Duma on Wednesday, Russian First Deputy Prime Minister Igor Shuvalov predicted inflation could reach some 11%, and that the country's GDP was expected to fall by over 8% in 2009.
