31 May 2004 05:28
Ministry forecasts H1 inflation of 5.4% (Part 2)
MOSCOW. May 31 (Interfax) - The Russian Economic Development and Trade Ministry forecast Russia would have inflation
of 5.4% in the first half of 2004.
Inflation in May is forecast at 0.5% and inflation for the first five months at 0.5%.
The monetary factor contributed 2.7 percentage points to inflation, or 59%, in January-April 2004, compared with 2.2
percentage points, or 35%, in the same period of 2003, the ministry said.
The rate of inflation slowed due to two factors. The first factor was the restriction on natural monopoly price and
tariff hikes. This contributed 0.7 to 0.8 percentage points to inflation, or 16%, compared with 23% in January-April
2003. The second factor was ruble growth, which made a negative contribution to inflation of minus 0.45 percentage
points or 10%.
The ministry forecasts inflation of 10% in 2004. [RU ASIA EUROPE EEU EMRG ECI] pr me
[Interfax] |
RUSSIA IN FACTS
