Russian Econ Development Ministry expects May inflation on par with April - Klepach
YEKATERINBURG. April 20 (Interfax) - The Russian Economic Development Ministry forecasts 0.4% inflation in Russia for May, the same as in April.
"For April, the forecast was 0.4%. I don't think it will be higher in May," Deputy Economic Development Minister Andrei Klepach told journalists in Yekaterinburg.
Over the last three weeks - March 27 to April 16 - consumer prices have grown 0.1%. For the first half of April, inflation was 0.2%, and since the beginning of the year - 1.7%. July will be a key month for inflation, as regulated tariffs will be indexed starting in the second half of the year (this previously was done on January 1, which largely predetermined a surge in prices at the beginning of the year).
In the short-term, the ruble will strengthen against the dollar and euro, Klepach said.
So far, the Economic Development Ministry is not changing its forecast for oil prices for 2013, he said.
"We aren't changing our forecast yet. The oil price will be $97 per barrel. But I believe that it will be higher - somewhere around $100-$103," Klepach said.
