RBC. The inflation rate in the Russian Federation in the next few years should not run higher than 5—7%, Russian Prime Minister Vladimir Putin said opening a meeting devoted to scenarios for the country’s economic development in 2011 and the planning period of 2012—2013. “We need to decide on the measures aimed at cutting inflation," the prime minister noted.
Based on the preliminary estimate of the Ministry for Economic Development, May’s inflation will come in at 0.3—0.4%. According to MED head Elvira Nabiullina, the inflation reducing trend has been stable in the past four months of 2010, but “some inflation driving factors could appear” by the end of the year.
For the record, Russia saw inflation running at 3.2% in Q1 2010. In 2009 consumer prices, based on Rosstat data, grew 8.8%.
The Ministry for Economic Development is known to propose cutting the 2010 inflation forecast from 6.5—7.5% to 6—7% amid annual average price growth of 6.3%. The 2011 forecast was left at 6—7% if annual average inflation moderates from 7.4% to 6.5%. The 2012 forecast was revised upward to 5.5—6.5% from 5—6.5% amid the annual average indicator of 6.5%, deputy MED head Andrei Klepach said.
