Ulyukayev expects the ruble exchange rate will not significantly affect inflation in 2016

Ulyukayev expects the ruble exchange rate will not significantly affect inflation in 2016


The collapse of the ruble and the second wave of devaluation of the national currency has significantly accelerated inflation in Russia, however, the head of the Ministry of economic development Alexey Ulyukayev expects that in 2016 the exchange rate will not affect the inflation dynamics.

MANILA, 16 Nov. The head of the Ministry of economic development Alexey Ulyukayev expects that the impact of the ruble for inflation in 2016 will be reduced and become virtually invisible.

“We expect that there is no”, — the Minister told the journalists, answering the question, what can be the contribution of the ruble exchange rate in inflation dynamics in 2016.

The collapse of the ruble in late 2014 and the second wave of devaluation of the national currency in August 2015 significantly accelerated inflation in Russia.

So, the August depreciation of the ruble will accelerate the annual inflation in Russia by 2 percentage points, stated in September, the head of the Central Bank Elvira Nabiullina.

By the end of this year, the Ministry officially forecasts inflation at 12.2%, although it does not exclude that it can reach 12,7-12,8%. Next year the Russian authorities expect a sharp deceleration of inflation to 6.4%.