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Bank of Russia expects inflation to remain at current levels until mid-year

The Central Bank revised upward the inflation forecast for Russia in 2021 to 4.7-5.2%

MOSCOW, April 23. /TASS/. The Bank of Russia forecasts inflation to remain at the level of first quarter values until mid-2021, Central Bank chief Elvira Nabiullina says at an online conference on Friday.

"Considering higher inflation expectations and the nature of inflation processes at large, we moved upward the short-term assessment of the inflation path. While we believed earlier annual inflation would peak in March and would consistently decline later on, then we now expect annual inflation to remain on the plateau around the first quarter value until mid-year," she said.

The Central Bank revised upward the inflation forecast for Russia in 2021 to 4.7-5.2%. Sustainable deceleration of annual inflation is predicted in the second half of 2021.