The MAYOR: monthly inflation in Russia by the end of the year will be around 0.5-0.6%

The MAYOR: monthly inflation in Russia by the end of the year will be around 0.5-0.6%


This level of monthly inflation will leave a projected year-end inflation at 12.2%, according to the Ministry of economic development.

MOSCOW, 20 Oct. The Ministry of economic development expects that monthly inflation will remain at the level of 0.5-0.6% to the end of the year that will enter the Ministry projected inflation at 12.2% by the end of 2015, said the Director of Department of macroeconomic forecasting of the Ministry Kirill Tremasov at the public Council meeting the MAYOR.

“To meet the 12.2% is our forecast — we should have until the end of the year 0,5-0,6% per month. This is exactly the trajectory on which we were in pre-crisis years. And now even if you look at weekly momentum, we are on that path back in the spring. Yes, there was some deviation from this trajectory in August, but now we are back at it, so we see 0.5-0.6% of quite real until the end of the year,” he said.

In turn, economist at the Centre for macroeconomic analysis and short-term forecasting (CMASF) Dmitry Belousov expressed a different view.

“Due to the middle of October annual inflation of almost 16%, and it is stable for three months, how can you draw on the end of the year 12%? I’m afraid it’s just a counting error”, — he said in his speech at the public Council meeting. “In my opinion, we actually go out somewhere by 14.5%, below 14%, I think, is unlikely,” predicts the economist.