Inflation reaches 0.8% in Sep, 7.5% in Jan-Sep -1

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MOSCOW, October 5 (RIA Novosti) - Consumer prices in Russia increased 7.5% in the first nine months of 2007, and 0.8% in September alone, the state statistics service said on Friday.

Inflation stood at 0.1% in September 2006, and 7.2% in January-September 2006.

Inflation in January, February and March was lower than in the respective months of 2006, and consumer prices grew faster, year-on-year, in April, May, June and July. Inflation in August 2007 was lower than the August 2006 level.

Experts said 2007 inflation would reach 9%. BrokerCreditService (BCS), Russia's number one investment house, Troika Dialog, Russia's oldest and largest private investment bank, Deutsche Bank and Trust Investment Bank all plan to increase their inflation forecasts to 9%.

"It will be difficult to keep inflation below 9% in Russia in 2007," said Yaroslav Lissovolik, chief economist at Deutsche Bank Russia.

However, the government plans to leave its 2007 inflation forecast at 8%. Economic Development and Trade Minister Elvira Nabiullina said on Thursday that her ministry would not review its inflation forecast and would do its best to keep inflation within the set limits.

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