The slowdown in the annual inflation rate corresponds to earlier forecasts, said in a statement the Central Bank of the Russian Federation following the meeting of the Board of Directors.
MOSCOW, 29 Jan. Annual inflation in Russia in January will be about 10% in comparison to 12.9% in December 2015, and in the first quarter, consumer prices will grow by 8-9% in annual terms, stated in the message of the Central Bank of the Russian Federation following the meeting of the Board of Directors.
The Bank of Russia on Friday decided to keep the key rate at 11% per annum.
“According to Bank of Russia estimates, the annual growth rate of consumer prices will decline from 12.9% in December 2015 to about 10% by the end of January 2016. This slowdown in annual inflation to the previously made forecasts. The Bank of Russia expects that in the first quarter of 2016 consumer prices will increase by 8-9% to the corresponding period of the previous year”, — said in a release.
The regulator also specifies that there are risks that the second quarter of the current year annual inflation will accelerate, including due to low base effect. “In a further reduction in the annual growth pace of consumer prices will resume,” adds the Central Bank.