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Monetary situation creates preconditions for mid-term inflation decline — Central Bank

January 30, 2015, 15:07 UTC+3
According to the Bank of Russia, monthly growth of consumer prices will slightly decline in January but annual inflation will continue growing, reaching its peak in the second quarter of 2015
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© Artyom Geodakyan/TASS

MOSCOW, January 30. /TASS/. Current monetary environment creates preconditions for mid-term inflation decline, the Central Bank said in its closing statement after the Board of Directors’ meeting.

Inflation expectations are the primary criteria to set the key rate, which was reduced today by 2 percentage points to 15%.

The Bank of Russia said that inflation was 11.4% at the end of 2014 while core inflation was 11.2%.

Consumer prices grew by 2.6% in December 2014 against the background of a weakening ruble, growth of inflation expectations and higher consumer demand for non-foods.

Annual consumer price growth totaled 13.1% on January 26, 2015.

According to the estimate of the Bank of Russia, monthly growth of consumer prices will slightly decline in January but annual inflation will continue growing, reaching its peak in the second quarter of 2015.

 

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