Central Bank does not rule out Russia’s inflation below 4% by year end

TASS Russian News Agency | Sep 13, 2019 at 10:40 AM

SOCHI, September 13. /TASS/. The Russian Central Bank does not rule out that inflation in Russia may fall below 4% by the end of 2019, Head of the regulator Elvira Nabiullina told reporters on Friday.

"Our data shows that the stable components of inflation are somewhere around 4%. Of course, inflation is often influenced by such market factors, short-term factors, temporary factors. They can affect inflation by the end of the year. And we do not rule out that it could go below 4%," she said.

Earlier, the Russian Ministry of Economic Development forecast inflation in Russia for 2019 at the level of 3.6-3.8%. According to the Ministry, annual inflation in Russia slowed down in August due to seasonal decline of prices for fruits and vegetables, the pace of which accelerated to 10.07% compared with July, when prices for these products fell by 3.94%.