MOSCOW, November 5 (RIA Novosti) - Inflation in Russia stood at 0.9% in October, in line with government projections, Central Bank First Deputy Chairman Alexei Ulyukayev said on Wednesday.
So far, the Russian authorities have stuck to their official inflation forecast of 11.8% for 2008 although the government and the Central Bank have conceded that consumer price growth is likely to hit 13% this year.
As of October 27, consumer prices had grown 11.5% since the start of the year. Most analysts predict inflation to hit 13-14% in 2008.
The Russian authorities are planning to adjust their 2008 inflation forecast in November, taking into account the need to shore up liquidity in the domestic financial market by injecting billions of U.S. dollars into the economy.
