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. Last Updated: 07/27/2016

Price Rises Slow Down

MOSCOW (MT) - First Deputy Prime Minister Vladimir Shumeiko said Thursday that the fall in inflation in the month of March was a sign that the economy had stabilized and predicted even lower inflation in the next few months.

Inflation ran at only 17. 4 percent in March, down from 25 percent in February, giving Russia its lowest monthly figure for six months. Shumeiko said the improvement was due to increased cooperation between the Central Bank and the government resulting in greater control over the growth of the money supply, Itar-Tass reported.

He said the state budget had balanced for the first two months of 1993 and the growth in the money supply had been cut from 28 percent per month in the middle of 1992 to only 9. 9 percent in February.