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Inflation Drops to 8%
07 June 1994
MOSCOW -- The Russian State Statistics Committee reported that monthly inflation fell to 8.1 percent in May, down from 9.7 percent in April, Interfax said Monday. Tight government spending has kept inflation below 10 percent for the past few months after a peak of 22 percent in January. The figure is in line with a government agreement with the International Monetary Fund to bring inflation down to about 7 percent by year-end. But Alexander Livshits, President Boris Yeltsin's chief economic adviser, told Reuters that inflation might be "too low for the situation in the Russian economy," and predicted that monthly inflation would run at about 10 percent in June and July.
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