Russian central bank improves 2016 inflation forecast to 5–6%

MOSCOW, Jun 23 (PRIME) -- Russia’s central bank has improved its forecast for inflation in 2016 to 5–6%, the regulator said Thursday.

“The current inflation over the last three months allows us to expect a further reduction of annual price growth amid an absence of unforeseen shocks,” the central bank said.

In May, annual inflation stabilized at the March–April level of 7.3%.

“Consumer price growth remained moderate in May supported by low demand and the ruble strengthening,” the regulator said.

The central bank’s previous official forecast for 2016 inflation amounted to 6–7%.

In 2015, consumer prices in Russia grew 12.9%.

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