Cbanker says regulator eyes Russia’s inflation at 4% in 2018

MOSCOW, Nov 10 (PRIME) -- The central bank expects Russia’s inflation to stand at 4% again in 2018, Igor Dmitriyev, head of the regulator’s monetary policy department, told reporters late on Thursday.

Earlier in November, the Economic Development Ministry cut its inflation forecast to 2.5–2.8% from 3.2%, while the central bank reduced it to 3% from 3.5–3.8%.

“We estimate inflation at close to the target, and it will get closer to 4% after the impact of one-time factors expires,” Dmitriyev said, adding that the authority expected it to happen in 2018.

“We are sure that inflation will return to 4%.”

The regulator may adjust its 2017 inflation forecast again until the end of the year, but it does not expect deflation in November or December, he said.

A tough period of struggling with inflation is over. “It is possible that we’ll have a tougher period in the future, a period of maintaining inflation close to the target,” Dmitriyev said.

“We see now that we have all instruments necessary to do this, with capability of forming monetary conditions in the first place.”

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