Russia’s annual rate of consumer-price inflation is likely to be between 7 or 8 percent in 1998, according to the state statistics committee, Goskomstat. Goskomstat is predicting that the rate in May will be 0.3 percent against 0.4 percent in April. Twelve-month inflation in April was 8 percent–the lowest level recorded since the start of Russia’s economic reforms. The corresponding figure for March was 8.5 percent. (Itar-Tass, May 13)
Economists warn, however, that Russia’s success in reducing inflation is undercut by the fact that the economy remains only partially monetarized and the use of barter, dollars and money surrogates appears to be on the increase.
BLAST IN DOWNTOWN DJOHAR KILLS FOUR.