Inflation in Russia to Stand At 7.8-8% in 2016 With Current Oil Prices

Deputy Finance Minister said that inflation in Russia will stand at 7.8 to 8 percent if oil prices stay at the current level throughout 2016.

KRASNOYARSK (Sputnik) – Inflation in Russia will stand at 7.8 to 8 percent if oil prices stay at the current level throughout 2016, Deputy Finance Minister Maksim Oreshkin said Friday.

"With the current oil prices, assuming they stay at the same level until the end of the year, [inflation] will stand at 7.5 to 8 percent," Oreshkin told reporters.