Cbanker: Annual inflation still may exceed 4% in Russia

MOSCOW, Oct 6 (PRIME) -- There still are risks of annual inflation overshooting 4%, Igor Dmitriyev, head of the monetary policy department of the central bank, said on Friday.

“Inflation is close to the (4%) target… inflation risks are still higher,” he said.

The official also said that the central bank will revise its inflation forecast for 2017 by the middle of October from the current 3.5-3.8%.

“I cannot say which way the forecast will be shifted. Now it is 3.5-3.8% for the end of the year, but in a week or a decade (the central bank) will issue a revised valuation,” he said.

The Economic Development Ministry projected inflation for 2017 at 3.2%.

A large grain harvest is unlikely to influence prices much, but may act as a safety margin for inflation to stay close to the 4% target, Dmitriyev said.

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