Inflation Jumps 2.2% In September

According to the State Statistics Committee, in September the inflation rate grew by 2.2% mom and reached 8.6% since the beginning of the year. It is the second inflation hike this year (in June inflation growth was 2.2% mom). In 9M07 CPI growth reached the highest level since 2000. PPI grew by 1.1% mom and reached 15.8% in 9M07. Polina Khomenko: In September food oil, milk and egg prices  continued to grow reaching 26.5%, 15.4% and 18.9% respectively since the beginning of the year. 15% mom growth in educational services prices, connected with the beginning of a new academic year also made its contribution to  the  CPI increase. We are reviewing our year-end forecast for CPI.