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. Last Updated: 07/27/2016

MinFin Predicts Inflation at 17%

The Finance Ministry expects year-on-year consumer price inflation to fall to around 17 percent at the end of 2001, helped by easing price pressures in the final four months of the year, Deputy Finance Minister Alexei Ulyukayev said Tuesday.

The forecast is in line with the government's recent forecasts of 16 percent to 18 percent, which exceed the budgeted 12 percent target.

The year-on-year increase in the consumer price index at the end of 2000 stood at 20.2 percent.

"I think by Sept. 1 the accumulated inflation [for eight months of the year] will be 13.2 percent, the same as it was on Aug. 1. I think in the remaining four months it will be less than 4 percent," Ulyukayev told Ekho Moskvy radio.

"On the whole, by the end of this year we will reach inflation of about 17 percent."