Russian Inflation Rate for 2016 May Be 7-7.5%

Russian Economic Development Minister said that Russia's rate of inflation for 2016 should be in the ballpark of 7 percent.

MOSCOW (Sputnik) – Russia's rate of inflation for 2016 should be in the ballpark of 7 percent, Russian Economic Development Minister Alexei Ulyukayev said Wednesday.

"[The economy] will depend on the decrease of capital outflow and the level of inflation at approximately 7.5 [percent] for this year and to 5.5 percent for the end of the three-year period [ending in 2018]," Ulyukayev said during a government session in the Russian lower house of parliament.