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    May inflation in Russia could grow 0.1% y-o-y- finance minister-1

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    MOSCOW, May 22 (RIA Novosti) - Inflation in Russia in May could grow 0.1% compared to the same period last year, when inflation stood at 0.5%, the finance minister said Tuesday.

    Alexei Kudrin said that inflation in the first three months of 2007 was lower than in the first quarter of 2006. Inflation in April 2007 was 0.6% against 0.4% in April 2006.

    Kudrin said inflationary pressure mostly resulted from surplus money generated by soaring oil prices, capital movement and extra state expenditure.

    Kudrin said: "We will have to neutralize additional inflation risks by strengthening the ruble, which is natural in the circumstances," adding that he was confident that inflationary goals for 2007 would be met.

    According to Russia's monetary policy guidelines for 2007, inflation is expected to slow down to 6.5-8% from 9% in 2006.

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