The figures of consumer price index published by the Russian statistics authority on April 3 do not meet the expectations of Russia's Ministry of Finance: the reduction of inflation in Russia has not occurred. The Kommersant newspaper reports quite the opposite: by the end of April the prices rose particularly fast: over a week the growth of consumer price index was 0.2%, and starting the beginning of the month the consumer prices rose by 1.4%.
The measures to fight the growth of monetary base that Russia's Ministry of Finance and Russia's Central Bank have planned for mid- and late 2008 are still unknown. It is obvious, however, that in order to achieve the planned index of inflation for the 2008 budget (8.5 to 10%), the measures have to be extraordinary and beyond the boundaries of common principles of economic policies of the Russian government.
And so far the inflation plan for the third of the year the government under Russian prime minister Viktor Zubkov has fulfilled almost two thirds: starting the beginning of the year the consumer prices have risen by 6.3%, according to Russian statistical authority.
During the first month of being a premier, Pootie-Poot (as President Bush called V. Putin) will have to be dealing with the inflation, close to the one recorded by the statistical authority back in 2000 when he was a premier as well.
Kavkaz Center
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