Extremely high inflation this year is the result of excessive spending of oil-dollars, informed minister of finances Aleksey Kudrin. "Inflation level of 11% means that we spent lots of oil money in Russia", - said Kudrin, noting that in other oil-producing countries inflation is less than 3-4%. "If we want wages and pensions of our citizens not to depreciate with rate 11-15%, we need to beware and spend money more carefully", - said minister, noting that increase of social expenses and financing of large investment projects must also be careful. "Construction of roads and energy stations will provoke inflation", - he said. The head of Ministry of Finance reminded that money allowances of servicemen and pensions of war pensioners will increase by 15% from January 1. Wage to budget workers will increase by 15% beginning from May 1, and by 11% - from October 1.