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Inflation to remain at 4.3-4.4% level in March — Russia’s deputy finance minister

March 21, 2017, 17:01 UTC+3 MOSCOW

Inflation in Russia can reach 4% in H1 2017 if market situation is good

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MOSCOW, March 21. /TASS/. Inflation is likely to remain at the current level of 4.3-4.4% in annual terms in March, Russia’s Deputy Finance Minister Vladimir Kolychev said Tuesday.

"In March (inflation - TASS) is likely to remain at the level of 4.3-4.4%," he said when asked a respective question.

Inflation may reach the targeted level of 4% in the first half of this year if the environment is favorable, Klychev said, adding that this does not depend on the Central Bank’s decision on the key rate. "It is unlikely that reviewed rates will have any effect on inflation in the first half of the year," he said.

Earlier Russia’s Finance Minister Anton Siluanov said he considers the inflation target of 4% feasible for the end of this year unless any serious changes occur. According to Siluanov, the Finance Ministry is interested in creating a predictable environment and not interested in bringing inflation further down if it is impossible to keep it stable for a long period of time. The Minister added that many factors influence inflation, including the harvest, the ruble’s exchange rate, as well as current oil prices.

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