- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Russia's Inflation to Dip Under 6.5% by 2017

© Sputnik / Ramil Sitdikov / Go to the mediabankBuilding of Ministry of Economic Development in Moscow
Building of Ministry of Economic Development in Moscow - Sputnik International
Subscribe
Russia's Economic Development Ministry expects a reduction in the country's annual inflation rates by the end of the year, Deputy Minister Alexey Vedev said Wednesday.

Aleksei Ulyukaev, Minister of Economic Development, attending the Cabinet meeting at the Government House, November 26, 2015 - Sputnik International
Russia
Russian Economy Ministry Estimates Inflation at 4.9% in 2017
ASTANA (Sputnik) — Russia's Economic Development Ministry expects a reduction in the country's annual inflation rates by the end of the year, Deputy Minister Alexey Vedev said Wednesday.

"We have quite a positive outlook on inflation. I think that stabilization in yearly terms is likely to take place in May, and a fall to 6.3-6.5 percent by the end of the year," Vedev told reporters.

Core inflation is currently at 7.3-7.4 percent, he added, stating that inflation rates will continue falling from late June.

Russian ruble banknotes of different denominations - Sputnik International
Russia
Inflation in Russia to Stand At 7.8-8% in 2016 With Current Oil Prices
The Economic Development Ministry's baseline forecast for the annual inflation rate in 2016 is 6.5 percent given $40 per barrel oil prices and a GDP growth rate of —0.2 percent.

In late April, the Russian Central Bank said it expected Russia's annual inflation rate to be approximately 5 percent in April 2017 and to reach the target level of 4 percent by the end of the same year.

Russia's annual inflation rate stood at around 7 percent between 2012 and late 2014 after reaching a record low of under 4 percent in early 2012, according to the State Statistics Service. Consumer prices rocketed in late 2014, with inflation reaching almost 17 percent by early 2015. Inflation rates later declined, falling below 8 percent by early 2016.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала