28 Dec 2010 11:09

Russian inflation could top 9%, not rise above 10% in 2011 - Gref

MOSCOW. Dec 28 (Interfax) - Inflation in Russia could top 9% in 2011 but is unlikely to climb above 10%, German Gref, chairman of Sberbank , said in an interview with the Vesti 24 TV news channel.

"There is a chance [of double-figure inflation next year] but I think the government will do all it can to keep it down to single figures. We aren't planning for it to rise above 10%, but there's a good chance it will rise above 9%," said Gref, who is a former Russian economic development and trade minister.

"We don't see any reason for inflation below 8.5% next year," he said.

The government and Central Bank have set goals of lowering inflation to 6%-7% in 2011, 5%-6% in 2012 and 4.5%-5.5% in 2013.