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Inflation in Russia to reach half percent in March

March 27, 2012, 13:11 UTC+3
Inflation in Russia might reach 0.4-0.5 percent in March, Deputy Minister of Economic Development Andrei Klepach said on Tuesday
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MOSCOW, March 27 (Itar-Tass) —— Inflation in Russia might reach 0.4-0.5 percent in March, Deputy Minister of Economic Development Andrei Klepach said on Tuesday on the sidelines of the innovation technologies forum.

When asked about inflation rates in April, Klepach said “they are not likely to be less” than in March. So far, in his words, inflation forecast for 2012 “has not been changed.”

According to Klepach, the rise in utilities tariffs planned for July will inevitably tell on inflation rates but inflation surge is likely to be equalized by low food prices typical of August and September.

“In all, the yearly inflation will somewhat go up on what we have now because of increased tariffs,” the deputy minister said but refused to comment on possible adjustment of inflation forecasts.

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