Report: Russian inflation to fall below 10% only in Apr–Jun – min

MOSCOW, Dec 29 (PRIME) -- Russia’s Economic Development Ministry now expects inflation to reach a single-digit level in April–June, not in January–March as it forecasted earlier, Minister Alexei Ulyukayev told channel Rossiya 24 in an interview broadcast Tuesday.

“This (inflation deceleration) occurs not as fast as we would like to, perhaps, not as fast because again, oil behaves objectionably, I should say, and the ruble follows it, and the consumer price index level follows the ruble. Nevertheless, common dynamics is noticeable,” Ulyukayev said.

The ruble’s high volatility poses threat to the Russian economy, he said. “The trouble is not whereas the currency exchange rate is high or low, the trouble is not whereas the U.S. dollar is worth 30 or 70 rubles, is that it fluctuates so much: in the beginning of the year with figures close to today’s ones, then it came close to 40 and now it has come back to 70. This is that high volatility, to which our companies, our business is not always able to adapt,” Ulyukayev said.

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