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Ulyukayev: Revision of inflation forecast may raise residential tariffs by over 4% in 2014

December 04, 2013, 1:33 UTC+3 BALI (Indonesia)
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BALI (Indonesia), December 03, 22:39 /ITAR-TASS/. Tariffs for the Russian population in 2014 may go up by 4.3 percent due to the revision of the inflation forecast to 6.2 percent, Russian Economic Development Minister Alexei Ulyukayev told reporters on Tuesday.

Under the Russian government’s decision, the tariffs of natural monopolies for industrial consumers will be frozen in 2014, but the tariffs for the population will account for 70 percent of the current year’s inflation rate. The Federal Service for Tariffs has already adopted the relevant decline in tariffs by 4.2 percent (proceeding from a 6-percent inflation forecast).

However, due to the fact that the Economic Development Ministry raised the inflation forecast (growth of consumer prices) to 6.2 percent, then the increase of tariffs for the population may go up to 4.3 percent, Ulyukayev said, adding, “Most likely, the Federal Service for Tariffs will have to review the decisions taken shortly ago.”

Asked to comment on further possible growth of tariffs, if the real inflation exceeds the updated forecast, the minister said, “Yes. We are speaking about the de fact inflation of the previous year, i.e. at the beginning we calculate the planned indices, but then we review them on the basis of the real inflation rate upon the results of the year [the tariff indexing level].

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