Russian Economic Development and Trade Minister German Gref
Photo: Dmitry Dukhanin
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Gref Forecasts April Inflation at 0.6 Percent to 0.8 Percent
April inflation will be 0.6 percent to 0.8 percent, Economic Development Minister German Gref said Thursday during the government’s meeting, Interfax reported.
”The first half of April shows April inflation could be 0.6 percent to 0.8 percent,” Gref said.
The inflation was 0.3 percent from April 1 to April 16, the minister announced referring to preliminary data of Russian Statistics Service and specifying that the inflation will be higher this month than a year before (0.4 percent in April of 2006).
”There is a serious chance to manage forecasted 7 percent to 8 percent,” the minister predicted when touching upon the annual outlook. But April shows that we “shouldn’t be under delusion that it will happen automatically.”
Growing inflow of foreign capital pressurizes inflation and the Central Bank of Russia (CBR) will have to apply all levers to attain the target. “Inflation should remain the highlight of government’s work,” Gref emphasized.
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