The Finance Ministry still expects inflation in 2016 will not exceed 6%

The Finance Ministry still expects inflation in 2016 will not exceed 6%


LIMA, 9 Dec. The Finance Ministry still expects inflation in Russia in 2016 will not exceed 6%, said Deputy Minister of Finance Maxim Oreshkin.

“Inflation was 7.9% in the first quarter, of 1.1% to 1.8% now, the second and third quarter. We expect very low inflation in the future. In our forecasts is 6% or lower next year,” said Oreshkin journalists.

He had earlier said that inflation in Russia in 2016 could be 6% or even lower.

The economic development Ministry on Wednesday published an updated macroeconomic forecast, which has improved expectations for inflation next year to 6.4% from 7%.