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Russian Economy Ministry Expects 3.6%-3.8% Inflation by Year-End

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The inflation rate is now close to the Bank of Russia's target estimate of 4 percent and should drop to a level of 3.6-3.8 percent by the end of the year, according to the Russian Economic Development Minister Maxim Oreshkin.

MOSCOW (Sputnik) — The Russian Economic Development Ministry expects inflation in Russia to slow to 3.6-3.8 percent by year-end, allowing it to actively lower rates, Minister Maxim Oreshkin said during a government hour session Wednesday.

"The inflation rate is now close to the Bank of Russia's target estimate of 4 percent and should drop to a level of 3.6-3.8 percent by the end of the year, according to our estimates," Oreshkin told lawmakers.

He noted that the trend would allow the bank to "actively lower the key rate."

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