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Annual inflation slightly below interval forecast by Bank of Russia

Central Bank chief Elvira Nabiullina noted that an increase in certain indicators of stable inflation can be seen in full month data for January

MOSCOW, February 13. /TASS/. Annual inflation in Russia is at present slightly lower than the interval forecast by the Bank of Russia, Central Bank chief Elvira Nabiullina said at a press conference after the Board meeting.

"Annual inflation is at the level of 6.3% now. It is slightly lower than our forecast interval of 6.5-7%, the one we expected as of the start of this year," Nabiullina said. "Accordingly, inflation dynamics at large is evolving within the framework of this scenario, we merely came to the current point not smoothly but throw slowdown in November - December and subsequent acceleration in January," she added.

An increase in certain indicators of stable inflation can be seen in full month data for January, Nabiullina noted. "Why? Because the estimation of such stable inflation indicators does not anticipate exclusion of the effect from VAT rate increase. That is why their growth cannot be interpreted as an upward turn of stable inflation," she added.

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