Russia's Economic Development Ministry has revised up its consumer price inflation forecast for 2008 to 11.8% from 10.5%, the ministry said Monday according to Prime-Tass.
The ministry also revised up its forecasts of consumer price inflation in 2009 and 2010 to 8%-9% from 7%-7.5%.
The forecast of the price of Urals blend oil for 2008 was revised up to U.S. $115 per barrel from $92-$98 per barrel, the ministry said.
The forecast of gross domestic product (GDP) growth in 2008 was revised up to 7.8% from 7.6%.
The forecast of GDP growth in 2009 was revised up to 6.7% from 6.6%, while the forecast of GDP growth in 2010 was raised to 6.6% from 6.5%, as determined under an innovative scenario of the economic development, the ministry said.