"We will see inflation indicators of some 13%," she told a meeting of the inner Cabinet. The dollar exchange rate rose to just above 33 rubles after Nabiullina's statements.
A similar inflation forecast was voiced earlier on Monday by Russian Finance Minister Alexei Kudrin, who is currently taking part in the Asian Financial Forum in Hong Kong. He reported, citing Russia's state statistics service, that Russia's inflation reached 13.3% in 2008.
Nabiullina also proposed using an oil price of $41 per barrel for the year when making economic forecasts.
Russian Prime Minister Vladimir Putin later ordered the Finance Ministry to revise the 2009 state budget using the same average oil price for the year.
"The Finance Ministry will have to introduce the necessary changes to the current budget for 2009 based on an oil price of $41 per barrel," Putin said.
