Finance Ministry posts new inflation forecast

Russian Senior Deputy Finance Minister Alexey Ulyukayev spoke to journalists in the State Duma today and forecasted that the inflation rate would not surpass 1 percent in Russia in April 2003. He believes that the overall 2003 inflation rate will be 12 percent.

According to information from the Russian State Statistics Committee, the Consumer Price Index was 2.4 percent in January, 1.6 percent in February and 1.1 percent in March 2003 in Russia, accounting for a total of 5.2 percent in the first quarter of 2003.