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. Last Updated: 07/27/2016

40% Inflation Forecast

MOSCOW -- Russia's consumer price inflation will be a bit more than 40 percent this year, higher than the budget forecast of 30 percent, Interfax quoted Finance Minister Mikhail Kasyanov as saying Friday.

However, Kasyanov said the government was in control of the situation, Interfax reported.

Inflation soared after the August 1998 economic crisis, with prices rising 42.5 percent last September, month-on-month.

Prices rose a slight 1.2 percent month-on-month this August.