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Economic Development Ministry raises inflation forecast for 2013

December 03, 2013, 15:45 UTC+3 BALI (Indonesia)
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BALI (Indonesia), December 03. /ITAR-TASS/. Russia’s Economic Development Ministry has raised its 2013 inflation forecast to 6.2%, keeping its forecast for 2014 and 2015 unchanged, Minister Alexei Ulyukayev told reporters on Tuesday.

In 2014, the inflation rate will stand between 4.5% and 5.5%, while the ministry has its inflation target of 4.8%, in 2015 it will be 4-5% with the target of 4.9%. In 2016, the price growth is expected to stand at 4-5%.

Moreover, the ministry slightly raised its forecast for the annual average growth of consumer prices in 2014 from 5.6% to 5.7%. The ministry’s forecast for 2013, 2015 and 2016 remains unchanged (6.7% in 2013 and 4.7% in 2015 and in 2016).

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