国际英语新闻：Russian inflation may exceed forecast in 2011

MOSCOW, Jan. 31 (Xinhua) -- The 2011 consumer prices inflation in Russia might be higher than the previous forecast, the deputy head of Russia's Audit Chamber said on Monday.

Valery Goreglyad told the meeting of the Federation Council, or Russian parliament's upper house, that the uNPRecedented drought in last summer attributed to the high inflation.

"Abnormal weather in last summer led to drought and destroyed crops in Russia. It might have negative effect on inflation and food prices," Goreglyad told the meeting.

The official said the money supply in Russia has grown by over 32 percent in 2010, which also could spur inflation.

In January this year, Russia's consumer inflation jumped up to 2.3 percent. Previous forecast said the inflation rate in 2011 may hit 6-7 percent.

Audit Chamber's own economic forecast until 2013 unveiled that economic and social prognosis in Russia suffered many shortcomings and inaccuracies, Goreglyad said.

According to the Audit Chamber's forecast, Russian national debt will rise by 28.7 percent in 2011 and will grow two-fold by the end of 2013, amounting to 18 percent of the gross domestic product.

As a means to boost budget revenues, Goreglyad proposed to increase the import duties on tobacco multi-fold.

Russia is the third world largest cigarettes producer, but has no domestic tobacco plantations.