The speaker pushed the inflation forecast is less than 10% for the second quarter of 2016

Moscow. December 29. The Russian economy will come to a definite level of inflation does not in I and in II quarter of 2016, said the Minister of economic development of Russia Alexei Ulyukayev.

“We, probably, next year will reach a level of less than 10% a little later than we expected. We assumed that this will be the end of the first quarter, but I will move those expectations for the second quarter,” he said in an interview with TV channel “Russia 24” (VGTRK).

This is due to the behavior of oil prices, which entails a change of the ruble and the subsequent adjustment of the level of the consumer price index, the Minister said.

However, the overall dynamics can be traced down, said Mr. Ulyukayev. Following the decline in inflation in the Ministry of economic development and waiting for the change of the ratio in the area of consumer demand.

“Minus 11% consumer demand (in November, according to Rosstat, the decline increased to 13.1% from 11.7% in October) is, of course, a huge decline. We have since 1999, anything similar was not” – said the speaker.

He expressed the hope that next year the situation will change, largely thanks to lower inflation.