Inflation in Russia to be back to target of 4% during 2018

Inflation in Russia to be back to target of 4% during 2018

Inflation in Russia will return to the target of 4% during 2018, Igor Dmitriev, head of the monetary policy department at the Bank of Russia, told journalists, TASS reports.

"Dynamics of inflation will be back to the target of 4% in 2018. It is difficult to talk about more precise terms, but we are confident that inflation will return to 4%," Dmitriev said.

He said that so far the regulator maintains its forecast for inflation in Russia at 3% for the year but it can be revised. He added that monthly inflation in October, according to the regulator, was 0.2%.

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