World Bank Forecasts Russia's 2016 Inflation Rate to Be at 5.9%

According to reports, World Bank has predicted Russia’s annual inflation rate for 2016 will be 5.9 percent.

MOSCOW (Sputnik) – The World Bank has predicted Russia’s annual inflation rate for 2016 will be 5.9 percent, a Russian macro-economist from the organization said Wednesday.

“By the end of the year [the inflation rate] will be 5.9 percent,” Sergei Ulatov said during a press conference.

Russia’s Central Bank earlier predicted inflation to be at 6-7 percent for 2016.