Inflation in Russia in Nov may be 0.4%, for 2016 - 5.8% - Econ Ministry
BARNAUL. Nov 11 (Interfax) - Inflation in Russia for November may amount to 0.4%, Deputy Economic Development Minister Alexei Vedev told journalists on Friday.
"In November, I think that [inflation] will be 0.4%," Vedev said on the sidelines of the Gaidar Readings, which are taking place in Barnaul.
For the year inflation, according to the ministry's forecast, may amount to 5.5%-5.8%. "Because December is a special month. This is preholiday shopping. In principle, we are very optimistically looking at it. The most optimistic [inflation forecast] is 5.5%, I think that it is more likely that it will be 5.8%. But all the same, this is half of what it was last year," the deputy minister said.
"We will reach [annual] inflation at 4% quite soon," Vedev said during a speech at the Gaidar Readings.
According to the presentation, inflation in the baseline plus development scenario for 2017 will be 4.5%, in 2019 - 4.1%. In the framework of the target scenario of development, inflation for 2017 is forecast at 4.3% and for 2019 at 3.9%.
The Russian economy in 2017 will be characterized by "growth or growth of a new kind," Vedev said.