Ulyukayev: inflation in Russia at the beginning of April will be at the level of 8.3 per cent in may – will exceed 9%

BERLIN, 19 February. Annual inflation in Russia at the beginning of March will be at the level of 8.3% and will rise in may to 9-9,5%, however the Bank of Russia has all opportunities to reduce the key rate in March. This was stated by Minister of economic development of Russia Alexei Ulyukayev.

“In the first quarter, I think that there is no (annual inflation will not fall below 8% – approx. ed.). On March 1, will be 8.3 per cent. And I think April 1 will be almost the same, less than 8% will not go away. And then Vice versa next will be a bounce sometime in may, probably will increase and will be about 9% for some time,” he said.

In his opinion, will start in may inflation to about 9-9,5%. “Even this easily reduces, from my point of view, the key rate in March,” Ulyukayev said.

Annual inflation will start to decline from about the fourth quarter, the Minister said. “And I expect somewhere around 7% will be in the December-to-December”, – concluded the official.

The key rate of the Central Bank

The speaker sees the possibility to reduce the key rate of the CBR in March