OMSK, July 13 (RIA Novosti) - Inflation in Russia reached 0.3% in the first 10 days of July, Russian economics minister German Gref said during a working trip to Omsk in West Siberia Friday.
The economics ministry expects inflation this month to stand at last July's level of 0.7%, said Andrei Klepach, the ministry's macroeconomic forecasting chief.
In the first half of 2007 inflation stood at 5.7%, pushing consumer prices up 6% in the January 1-July 10 period. To achieve the government's plan of an 8% price hike for the year, inflation must keep within 1.5% in the remaining five months of 2007.
Some experts believe inflation in 2007 will exceed the forecast level of 8%. Anton Danilov-Danilyan, chief expert at the Business Russia association, said recently inflation could hit 8.5% this year.
However, Russian authorities pledge to keep inflation within the planned rate and expect inflation not to exceed 1% in July-September.
Traditionally, late summer sees deflation and a slight hike in consumer prices.
