Ministry of Economic Development of the Russian Federation forecasts inflation peak in March-April, when it can reach 15-17% in annual terms, said Alexei Vedev, Deputy Minister of Economic Development, on Wednesday, January 14.
“The peak of inflation will be in March-April, yoy inflation in this period may reach 15-17%,” – said the deputy minister. He also said that by the end of 2015, inflation is expected to be double-digit”. Vedev added that this number will be affected by the dynamics of imports and the ruble exchange rate fluctuations.
January 12, Russian Federal Statistics Service confirmed that inflation rate in the country in 2014 was 11.4%, that is the highest rate since 2008. Then, consumer prices rose by 13.3%. In December 2014, consumer prices rose by 2.6% – food products rose by 3.3%, non-food products – by 2.3%. As for 2013 inflation rate, according to the Federal Statistics Service, it was 6.5%.
The official forecast for inflation rate in 2015 made by Ministry of Economic Development in the beginning of December was 7.5%. In the end of December Alexei Ulyukayev, head of the Ministry of Economic Development, announced that accordu=ing to the new forecast of the Ministry, inflation will be 10% in 2015.