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MOSCOW, October 10 (RIA Novosti) - Inflation will exceed 9% in 2007 in Russia, Economic Development and Trade Minister Elvira Nabiullina told the press on Wednesday.
The economics ministry's original forecast for 2007 was 8%, compared to last year's figure of 9%.
Nabiullina said: "Unfortunately, inflation is likely to exceed last year's level," adding that rising food prices were a major cause of recent inflation.
In the first nine months of 2007, consumer prices in Russia grew 7.5% or 0.3% more than in the same period of last year. In September alone they climbed 0.8%, making the government's 8% inflation target for 2007 unrealistic.
