Russia’s Sberbank CIB expects record low inflation of 5.6% in 2016

MOSCOW, Sep 6 (PRIME) -- Sberbank CIB, investment branch of Russia’s biggest lender Sberbank, expects inflation to reach 5.6% in 2016, a record low since 1991, it said in a research on Tuesday.

“An increase of weekly inflation to 0.1% on average is expected in autumn. We also do not rule out inflation acceleration, which is traditional for the end of the year in December. In the framework of this scenario, the consumer price index growth can stand at 5.6% in 2016, which will become a record low level,” Sberbank CIB said.

The central bank can reduce its key rate at the next meeting on September 16 due to the inflation dynamics, the investment bank said.

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