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Highest inflation rate in Russia expected in March-April — deputy minister

January 14, 2015, 9:44 UTC+3
The inflation rate may reach 15-17%
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© ITAR-TASS/Alexandra Mudrats

MOSCOW, January 14. /TASS/. Russian Ministry of Economic Development expects highest inflation rate in March-April, when it may reach 15-17% at an annual rate, Deputy Minister of Economic Development Aleksey Vedev told reporters.

“The inflation rate will reach its peak in March-April, it may reach 15-17% at an annual rate at this period of time,” the deputy minister said.

Meanwhile, the inflation rate will most likely have double-digit rate or will be close to it at the end of 2015. Import dynamics and rouble rate fluctuations will have an impact on the inflation, Vedev said.

Russia statistics service confirmed inflation rate reaching 11.4% in 2014, TASS reported earlier. This is the highest figure since 2008, when consumer prices grew by 13.3% Consumer price growth has made 2.6% in December 2014, the agency said in its statistical reports.

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