OREANDA-NEWS. December 28, 2010. Next year, inflation rate in Russia could go beyond 9%, but is still unlikely to surpass 10%, the president of Sberbank and ex-minister for economic development and trade, German Gref said. He did no rule out inflation might show a 2-digit reading next year. “It cannot be ruled out, though I believe the government will do its best to keep it within the range of one-digit numbers.

We do not expect inflation to exceed 10%; however, it is likely to surpass 9% at least”, Gref said in an interview to the Vesti 24 TV channel. “We do not see any reasons for inflation to stay below 8.5% in 2011”, he added. The Russian government and Bank of Russia have an objective to cut inflation to 6-7% in 2011, 5-6% in 2012 and 4.5-5.5% in 2013.