Gref Expects 9% Inflation

Inflation may exceed 9 percent in 2011, Interfax reported, citing German Gref, chief executive of Sberbank, in an interview on state television.

There are no grounds to expect inflation to be less than 8.5 percent, while the rate is unlikely to be higher than 10 percent, the news service said, citing the interview on Monday.

The government’s current inflation target for next year is 6 percent to 7 percent, the news service said.


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