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. Last Updated: 07/27/2016

9.7% April Inflation

MOSCOW Reuters-- Russia's April inflation was 9.7 percent a month, up from 8.7 percent in March but well below a monthly average of 20 percent last year and January's 22 percent, a government information bulletin said Wednesday. Government officials have predicted that Russia could keep inflation below 10 percent a month in the first half of 1994 and that a 7 percent government target by December, promised to the International Monetary Fund to secure a $1.5 billion loan, was realistic. Central Bank Chairman Viktor Gerashchenko last week forecast April inflation at about 7 to 8 percent. Bankers say cheap agricultural credits to finance the spring sowing campaign and delayed payments to miners are behind this month's rise in inflation