Russia inflation rate higher than 8% in 2009

Oct. 26 MetalBiz--Putin, premier of Russia attended in Russia-Finland Forestry Meeting in St.Petersburg on October 25, and claimed that the Russia domestic inflation rate in 2009 will be slightly higher than 8%.

Russia government official website reported citing Putin's words that Russia government exerts itself to controlling the inflation rate within 8% to 9%. Putin said that in the upcoming three to four years, it is completely probably that Russia decreases the inflation rate to 5%-6% level.

Putin also stated that after the decline of inflation rate, the financial institute should cut down the loan interest correspondingly so as to create the stable condition for the enterprises' operation.

Russia's economy in the recent years increases rapidly, but it is affect by the high inflation all the time. Russia's official statistics showed that Russia's inflation rate in 2007 was 11.9% and that in 2008 was 13.3%. Russia's officials previously expected that its inflation rate in 2009 will be 13%.