Alexei Ulyukaev, Economic Development Minister, told reporters that the inflation rate in Russia in January would be 0.9-1%, and in annual terms, it would be 10%.
According to the Russian Federal Statistics Service, inflation rate in Russia was 0.2% from January19 to January 25, 2016 . Since the beginning of the year, the rise in prices by 25 January was 0.7%. In annual terms, inflation fell by 25 January to 10,2-10,3% from 12.9% at the end of December 2015.
In the middle of January, Economic Development Ministry told “Interfax” that if the average price for oil was $40 per barrel, inflation rate would be about 8.5%.
The Central Bank in mid-December forecast that inflation rate in 2016 would be 5.5-5.6% if oil price was $50 per barrel, and inflation rate would be 7% if oil price was $35 per barrel. The Ministry of Economic Development expects inflation to be 6.4% if oil price is $50 per barrel.