Nabiullina warned about the risk of getting stuck at the level of inflation at 6-7%


Speaking at the meeting of the Finance Ministry, Nabiullina pointed out that the yield on inflation until 2014 should not relax, said the Agency TASS. “There is a risk that we get stuck at 6-7 per cent,” she said.

This level of the head of the Bank of Russia called “completely unacceptable” because it does not stimulate inflow of investments. According to Nabiullina, the goal is to have by the end of 2017, the inflation rate is 4%.

Nabiullina also noted the desire of the Ministry of Finance to return to a three-year budgetary planning. “We welcome the commitment of the Ministry of Finance to increase the budget deficit and return to a three-year budgetary planning, because uncertainty budget strategy is a significant Pro-inflationary factor,” she said.

In early April, Nabiullina said that the Bank of Russia intends to reduce the key rate, taking into account the price growth factor. “We should not allow the situation when we bet will reduce, and inflation will grow,” she said.

According to Rosstat, with the beginning of the year inflation was 2%, at an annual rate of 7.2%.

In 2015 the growth of consumer prices was 12.9%. Changing 7% annual inflation was last recorded in March 2014, even before the sharp fall in oil prices and the imposition of economic sanctions.