Central Bank expects annual inflation to peak in April-May in Russia - Nabiullina

MOSCOW. Feb 14 (Interfax) - The Central Bank of Russia estimates that annual inflation should expectedly peak in April-May in the country, Central Bank Governor Elvira Nabiullina said at a press conference on Friday.

"The annual inflation rate depends on how much the base of last year is. According to our estimates, the peak will probably be somewhere in April-May," Nabiullina said.

The central bank governor added that current inflation should begin to decelerate in the near term.

"Some increase is possible owing to the indexation of tariffs in July. However, the most important aspect is that we expect monthly inflation, which characterizes the current price pressure, to be around 4% in annual terms by the end of the year. Since we entered the year with high inflation, then annual inflation will be 7%-8% by the end of the year," Nabiullina said.