Cbank: Firmer ruble influence on inflation slowdown almost over

MOSCOW, Feb 10 (PRIME) -- Strengthening of the Russian ruble has been the main factor behind slowing inflation since April 2016 but its influence is almost exhausted, the forecast department of the central bank said in a statement on Friday.

“The key factor helping price growth to slow down is the firming of the ruble, which has been intermittently lasting since April 2016. The practice of the last three years demonstrates that the pricing trend is quite sensitive to ruble fluctuations,” the statement said.

“We do not see any deviations of the currency rate from the level corresponding to a fundamental balance. Taking into account the fact that a further oil price growth is improbable, the disinflation effect from the exchange rate dynamics is close to an end.”

The conclusions of the forecast department may differ from the official position of the authority.

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