World Bank: Russia's inflation to decline bellow 4% in 2-3 years

World Bank: Russia's inflation to decline bellow 4% in 2-3 years

The World Bank predicts a decrease of inflation in Russia to less than 4% within 2-3 years. It will be possible due to the prudent policy of the Bank of Russia, the World Bank's Lead Economist for the Russian Federation Apurva Sanghi said.

"The core inflation rate declined to 4.1%. In fact it reached the inflation target, which was set at the end of this year. We expect that in the next 2-3 years the prudent policy of the Central Bank will allow for a greater reduction," the economist said.

Apurva Sanghi stressed that, largely thanks to the effective implementation of the Central Bank's monetary policy, the authorities managed to maintain macroeconomic stability in the country. "A few years ago, Russia introduced a floating exchange rate of the ruble," he recalled, adding that it "also contributed to a more effective adaptation of the economy to external shocks."

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