Listen Live
    Building of Ministry of Economic Development in Moscow

    Russia to Hit Peak Inflation of 15-17% in March-April 2015: Ministry

    © Sputnik / Ramil Sitdikov
    Russia
    Get short URL
    0 26
    Subscribe

    Russian Deputy Economic Development Minister Alexei Vedev hoped that the peak of inflation in March-April of 2015 will be at the level of 15 to 17 percent.

    MOSCOW, January 14 (Sputnik) – Russia's inflation in 2015 will peak in March and April, when it will reach between 15 and 17 percent, Russian Deputy Economic Development Minister Alexei Vedev said Wednesday.

    "The peak of inflation will probably be in March-April, and I hope lower than 20 percent year-on-year at the level of 15 to 17 percent," Vedev told journalists.

    In December 2014, Russian Central Bank head Elvira Nabiullina said the inflation rate in Russia was expected to remain at 10 percent for the first quarter of 2015. According to a European Commission forecast, it may take until 2016 for it to fall to 6 percent.

    Russia has seen a rapid depreciation of its currency in recent months due to falling oil prices and geopolitical tensions related to the Ukrainian crisis.

    In December, Russian President Vladimir Putin said that the country's economy will inevitably recover from the current downturn in the next few years, adding that it may rebound as early as the first quarter of 2015.

    Related:

    Inflation in Russia to Remain Over 10% Throughout 2015: Minister
    Russian Inflation Rate for 2015 to Remain Same as 2014 at 12%: Kudrin
    Russia's Peak Inflation Expected in Q1-2015: Central Bank Official
    Russian Economic Development Minister Estimates Annual Inflation at 9%
    Tags:
    economic forecast, inflation, Russian Ministry of Economic Development, Alexei Vedev, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik