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Economy ministry issues inflation forecast for July
RBC, 29.07.2005, Moscow 13:34:36.In July 2005, inflation is expected around 0.5-0.6 percent, and in this case it will total 8.5-8.6 percent for the period of January to July. This forecast is contained in Russia's social and economic development review drawn up for the period of January to July 2005 by the Russian economy ministry. The ministry's report says that inflation was steadily declining compared with the same period last year. Simultaneously, consumer prices grew by 8 percent, up from 6.1 percent in 2004. Over the first 18 days of July, the inflation rate stood at 4 percent, and since the beginning of the year, it totaled 8.4 percent, the economy ministry estimates. As reported earlier, in July, the economy ministry raised the inflation forecast for 2005 from 10 to 10-11 percent.
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