ZCZC
BCN-19
RUSSIA-ECONOMY-INFLATION-FORECAST
Updated inflation forecast of Central Bank for 2019 appears overstated –
Economy Minister
MOSCOW, June 16, 2019 (BSS/TASS) – 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%.
BSS/TASS/HR/1450