MOSCOW, Aug 31 (PRIME) -- Contribution of a value-added tax (VAT) increase to Russia’s inflation can range between 0.6 percentage points and more than 1.5 percentage points and will peak at about 1 percentage point in January–March 2019, the authority said in a statement on Friday.
The VAT rate will increase to 20% on January 1 from the current 18%.
After the peak, inflation will gradually fall and reach 4% in January–March 2020.
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