Inflation of 4.5%-5% expected in Russia in 2021 - Belousov
ST. PETERSBURG. June 2 (Interfax) - The Russian government is now expecting 4.5%-5.0% inflation in 2021.
"My estimate right now is between 4.5% and 5.0%, which is roughly what the Economic Development Ministry expects, while the Central Bank's estimates are a little higher," First Deputy Prime Minister Andrei Belousov told reporters on the sidelines of the St. Petersburg International Economic Forum.
The government's official forecast, made in April, is for 4.3%, while the Central Bank is predicting 4.7%-5.2%. Belousov himself said in May that he was expecting 4%-4.5% for the year but now his expectations have risen slightly.
"But we are seeing what is happening in the world markets, and that of course is alarming all of us," he said regarding his new inflation expectations.
The Federal State Statistics Service (Rosstat) has said year-to-date inflation was 3.2% as of May 24.