TASS, Moscow :
The new inflation outlook of the Central Bank for 2019 appears overstated, Russian Minister of Economic Development Maxim Oreshkin told reporters.
“As we have already said, we [the Ministry of Economic Development – TASS] have a different forecast. We see inflation below 4% in this year. Colleagues from the Central Bank revised their forecast but we believe it is still overestimated,” Oreshkin said.
The Bank of Russia lowered its end-of-year annual inflation forecast for 2019 from 4.7-5.2% to 4.2-4.7% earlier on Friday. The revised forecast takes into account the completion of the VAT increase pass-through to prices, the preservation of relatively favorable external conditions and moderate dynamics of domestic demand. Annual inflation will stay close to 4% later on, the regulator noted. According to official data of the Ministry of Economic Development, the 2019 inflation outlook is kept at the level of 4.3%.
The new inflation outlook of the Central Bank for 2019 appears overstated, Russian Minister of Economic Development Maxim Oreshkin told reporters.
“As we have already said, we [the Ministry of Economic Development – TASS] have a different forecast. We see inflation below 4% in this year. Colleagues from the Central Bank revised their forecast but we believe it is still overestimated,” Oreshkin said.
The Bank of Russia lowered its end-of-year annual inflation forecast for 2019 from 4.7-5.2% to 4.2-4.7% earlier on Friday. The revised forecast takes into account the completion of the VAT increase pass-through to prices, the preservation of relatively favorable external conditions and moderate dynamics of domestic demand. Annual inflation will stay close to 4% later on, the regulator noted. According to official data of the Ministry of Economic Development, the 2019 inflation outlook is kept at the level of 4.3%.
