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Inflation in Russia hits 11% as of Oct.15

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MOSCOW, October 15 (RIA Novosti) - Inflation in Russia stood at 0.4% in the first two weeks of October, totaling 11% from the start of the year to October 15, the country's top statistics body said on Wednesday.

In the same period of 2007, inflation measured 8.5%, the State Statistics Service said.

The government's official inflation forecast for 2008 is 11.8%.

The International Monetary Fund revised on October 8 Russia's 2008 GDP growth forecast from 7.1% to 7%, and raised its inflation projection for the country from 13.8% to 14% amid the ongoing global financial crisis.

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