Fin Min official says inflation could exceed 3.5% in 2018

MOSCOW, Sep 10 (PRIME) – The Russian consumer price inflation index may exceed 3.5% in 2018, but the risk is not too high, Deputy Finance Minister Vladimir Kolychev told reporters on Monday.

“The thing we saw in August was influenced by food inflation and it was partially a reaction to a new currency exchange rate. If we see that these factors affect inflation in a more prolonged way, it might be a little higher than 3.5%. We tend to see this risk as a not too high now,” Kolychev said.

The Economic Development Ministry estimates the 2018 inflation at 3.4%.

Kolychev said that the current volatility of the ruble is not of a systemic nature but is due to capital outflow from developing markets.

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