Russian Economic Development Ministry retains annual inflation forecast below 4%

Russian Economic Development Ministry retains annual inflation forecast below 4%

Russia's Minister of Economic Development Maxim Oreshkin said that the ministry retains an estimate of annual inflation in 2019 below 4%.

"Our expectations remain below 4%. We see that inflation has slowed down very significantly, so the Central Bank makes decisions on easing monetary policy. The Central Bank has already said that it would continue to act in this direction," TASS cited him as saying.

Oreshkin added that he hopes that the second half of the year, Q2 will be stronger than the dynamics they see right now.

According to the Central Bank, inflation in Russia at the end of June fell to 4.7% in annual terms.

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