Tariff review in 2015 to add 0.1-0.2 pp to inflation, weaker ruble much more - Ulyukayev
MOSCOW. Oct 2 (Interfax) - A review of housing and utility and rail freight tariffs in 2015 could add a mere 0.1-0.2 percentage points to inflation, but the effect of the ruble's current devaluation could be much stringer, Economic Development Minister Alexei Ulyukayev told reporters on the sidelines of the forum Russia Calling!
"Tariff growth is calculable, its impact won't be macro-economically significant. Its impact can be measured at up to 0.1-0.2 percentage points on the CPI," Ulyukayev said.
The government initially thought of indexing housing charges next year in line with inflation for the previous year, but later changed its mind in favor of the inflation + 1% formula. Rail freight tariffs will be indexed by 10% instead of a previously envisaged 7.5%.
Ulyukayev said "the weaker ruble might influence inflation much more next year" because "the carry-over effect right now is strong and one-directional."
Asked how much the 2015 inflation forecast, which is currently 5.5%, might be raised, Ulyukayev said "for now we work on the basis of the forecasts that we have."
The Economic Development Ministry plans to submit an updated forecast for 2015 at the beginning of December.
