06:08 GMT +310 December 2018
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    URGENT: Inflation will not exceed 11%, GDP to grow 6.4% in 2005

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    MOSCOW, December 26 (RIA Novosti) - Inflation will not exceed 11% while GDP will grow by 6.4% in 2005, a senior official of the Bank of Russia said Monday.

    Central Bank First Deputy Chairman Alexei Ulyukayev said that inflation as of December 19 was 10.5% and would not exceed 11% in 2005.

    Ulyukayev said inflation was slightly higher than planned.

    "Inflation could have been lower, if not for the jump in prices at the start of the year and the rise of rent and utility prices," he said, adding that the latter upped inflation by 1.8%.

    Russia's economy will grow by 6.4% in 2005, a much higher figure than predicted at the start of the year, Ulyukayev said.

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