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Middle East developments carry extra proinflationary risks for Russia

The formal inflation outlook released by the Central Bank in February does not address the aggravation in the Middle East, Kirill Tremasov noted

NOVSOBIRSK, April 9. /TASS/. The aggravated situation in the Middle East carries extra risks for inflation acceleration in Russia and the Central Bank will assess their scale at the meeting on April 24, Advisor to the Governor of the Bank of Russia Kirill Tremasov said.

"The oil and fertilizer price hike is fraught with intensified inflation effect globally. These risks are absolutely evident. Developments in the Middle East carry additional proinflationary risks for us, whose scale will be evaluated in April," Tremasov said.

The formal inflation outlook released by the Central Bank in February does not address the aggravation in the Middle East, he noted. "The picture was still unclear; it is not completely evident even now and leaves great uncertainty," Tremasov added.

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