Russia's Annual Inflation To Be Around 3.8%-4.2% In 2018 - Bank Of Russia Official

Faizan Hashmi Published November 20, 2018 | 09:55 PM

At the end of this year, inflation in Russia will be within the range of 3.8-4.2 percent, the Bank of Russia's Director of Research and Forecasting Department Alexander Morozov said Tuesday.

MOSCOW (UrduPoint News / Sputnik - 20th November, 2018) At the end of this year, inflation in Russia will be within the range of 3.8-4.2 percent, the Bank of Russia's Director of Research and Forecasting Department Alexander Morozov said Tuesday.

"The forecast remains at being between 3.8 and 4.2 percent ...

Let's lean toward the middle [of the range]," Morozov told reporters.

He noted that over the past week, price growth had accelerated, and currently annual inflation was at 3.7 percent.

"We have already entered a period of seasonally higher prices. Prices are typically rising faster in November and December," the official stated.

In February, Morozov said that inflation in Russia was unlikely to fall below 2 percent in 2018.