Russian inflation to slow to 4.2% in H2 from 7.4% in H1
MOSCOW. July 13 (Interfax) - The Economic Development Ministry forecasts that inflation will slow to 4.2% in the second half of 2009 from 7.4% in the first half, the ministry said in a revised forecast published on its web site.
Inflation has slowed in the latest few months measured on a year-on-year basis.
Consumer prices in March were 14% higher than in March 2008, but just 12.3% higher in May year-on-year and 11.9% higher in June. Actual inflation in January-June 2009 was 7.4% compared with 8.7% in the same period last year.
"The loosening of monetary and fiscal policy and reviving consumer demand will raise inflation to 12%-12.5% at the end of the year, but still lower than the 13.3% recorded last year," the ministry said.
Analysts told Interfax in a consensus forecast at the end of June that inflation in 2009 will equal 12.1%.