Russia's 2010 consumer price inflation is likely to exceed the forecast of 8.5% and the government should do its best to restrain inflation growth next year, President Dmitry Medvedev said on Tuesday.
"Unfortunately, we did not comply with the parameters we set for ourselves, in particular, due to developments on the agricultural and food markets. The forecast was raised to 8.5% but the final figure is expected to slightly exceed it as I understand," Medvedev told a government meeting.
Before an unprecedented summer drought, which wiped out a third of Russian crops, the Russian government expected inflation would not exceed 7.5%, but the forecast was then raised to 7-8%. Last year inflation stood at 8.8%.
The official inflation forecast for 2011, which was projected in the budget, stands at 6.5%.
MOSCOW, December 28 (RIA Novosti)
