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Government forecasts 4.5-5% inflation in Russia by end of 2021

The situation on the world markets brings up some concern, First Deputy Prime Minister Andrey Belousov remarked

ST. PETERSBURG, June 2. /TASS/. Government forecasts inflation in Russia at 4.5-5% by the end of 2021, which is higher than the April estimate, First Deputy Prime Minister Andrey Belousov told reporters on the sidelines of SPIEF-2021.

"My estimate now is from 4.5% to 5%, it roughly corresponds to the expectations of the Ministry of Economic Development, the estimates of the Bank of Russia are slightly higher. But we see what is happening on the world markets, and this, of course, brings up some concern for everyone," he said.

In April, Belousov said that the government expected inflation in Russia at the end of the year in the range of 4% to 4.5%.

Earlier, Minister of Economic Development Maxim Reshetnikov noted that the ministry maintained its forecast for annual inflation in Russia at 4.3%, now it had reached a plateau, and then it would decline.

According to the Bank of Russia forecast, inflation in 2021 will be within 4.7-5.2% and will return to the 4% target in mid-2022.

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