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Inflation in Russia to be back to target of 4% during 2018 — Central Bank’s official

So far the regulator maintains its forecast for inflation in Russia at 3% for the year but it can be revised

MOSCOW, November 9. /TASS/. Inflation in Russia will return to the target of 4% during 2018, Igor Dmitriev, head of the monetary policy department at the Bank of Russia, told journalists.

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"Dynamics of inflation will be back to the target of 4% in 2018. It is difficult to talk about more precise terms, but we are confident that inflation will return to 4%," Dmitriev said.

He said that so far the regulator maintains its forecast for inflation in Russia at 3% for the year but it can be revised. He added that monthly inflation in October, according to the regulator, was 0.2%.

Earlier on Thursday, the Economic Development Ministry published a forecast saying that the annual inflation in November will be in the range of 2.6-2.7%, and in December it will be in the range of 2.5-2.8%, depending on the further dynamics of the ruble exchange rate.

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