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Russia's inflation at 6 percent - Putin

The inflation rate in Russia will reach by slightly more than 6 percent in 2011

MOSCOW, December 21 (Itar-Tass) — The inflation rate in Russia will reach by slightly more than 6 percent in 2011, Prime Minister Vladimir Putin told the Congress of the Business Russia public organization on Wednesday.

"The inflation by the results of the year will amount to slightly more than 6 percent, a historical minimum for a modern Russia," Putin said.

He promised that the government would continue to "do everything necessary to ensure a stable rouble rate and a low inflation, maintain tough budget discipline and guarantee unconditional freedom of the movement of capital."

The premier reminded that the market of global capital had shrunk dramatically and that the situation in Europe and the USA, and in the world economy in general was far from being ideal.

Russia therefore has to launch its own domestic investment engine, i.e. support manufacturing business and create the conditions to make investments in the domestic industry advantageous, Putin said.

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