The yearly inflation in Russia may stabilize near the target of 4 percnet in 2021, a forecast department at the Bank of Russia said Wednesday in its bulletin on trends
MOSCOW (Pakistan Point News / Sputnik - 08th April, 2020) The yearly inflation in Russia may stabilize near the target of 4 percnet in 2021, a forecast department at the Bank of Russia said Wednesday in its bulletin on trends.
The department's forecasts do not necessarily reflect the bank's official policy.
In March, the inflation in the country increased to 2.5 percent year-on-year after the 2.3 percent in February.
"After the expected increase, the inflation will stabilize near the target in 2021, in part, due to the financial and credit policy. The expected partial rebound of oil prices and reserved consumer demand create a largely disinflation background in medium term," the bulletin read.
In early April, Elvira Nabiullina, the head of the Bank of Russia, said she was expecting Russia to return to the 4 percent target in 2020.
