Russian Econ Ministry forecasts Sept inflation to quicken to 0.5-0.6%
MOSCOW. Sept 4. (Interfax) - The Russian Economic Development Ministry forecasts that inflation will accelerate to 0.5-0.6% in September, from 0.1% in August, Deputy Economic Development Minister Andrei Klepach told reporters.
"Our working estimate for September inflation is 0.5-0.6%," Klepach said.
The 0.1% August inflation was lower than the 0.2%-0.3% that the Econ Ministry forecast, Klepach said. But inflation in September is unlikely to stay that low because food prices are starting to rise and the seasonal drop in fruit and vegetable prices is starting to slow.
The Econ Ministry at the end of August raised its 2012 inflation forecast to 7% from 5-6% because food prices are expected to grow more than originally anticipated. Russia had an all-time low of 6.1% inflation in 2011.