Russia raises inflation forecast

---

MOSCOW, July 28 (AFP): Russia has raised its inflation forecast for 2008 from 10.5 per cent to 11.8 per cent, Deputy Economic Development Minister Andrei Klepach said today, Interfax news agency reported.

As in other parts of the world, Russia has seen growing food and energy prices in recent months. Inflation reached 11.9 per cent last year-far higher than the 8.0 per cent forecast by the economic development ministry.

During his confirmation hearings in the Russian parliament in May, Prime Minister Vladimir Putin promised to reduce high-priced food imports by boosting domestic agriculture to achieve inflation of below 10 per cent in 2008.