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Economy Minister Elvira Nabiullina indicated that the Russian government anticipate that consumer prices will increase an annual 12 percent this year, compared with last year's 9 percent rate. The Russian government's ``massive additional spending'' before this years elections also helped push up inflation by stoking up additional demand the Organization for Economic Cooperation and Development said earlier this month in a report. Legislators approved additional budget outlays this year as the nation prepared to hold parliamentary elections on Dec. 2 and a presidential vote in March 2008.
For a full and extensive analysis of the dynamics of Russia's growing inflation problem see this post here.
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