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21 May, Monday

Ufa   °

Inflation will not affect Central Bank’s decision on key rate - Ministry of Economic Development


UFA, 28 April 2017. /Bashinform News Agency, Alim Faizov/.

In April inflation in Russia in annual terms may exceed the forecasted earlier rate of 4.2% and make up 4.3%, which is a temporary factor, announced the head of the Ministry of Economic Development Maxim Oreshkin.

The minister said that inflation will indeed exceed 4.2% in April. At the same time, he urged to understand that this was a short-term movement, connected primarily with prices for fruit and vegetable products, the Izvestia newspaper reports with reference to RIA Novosti.

Oreshkin also said that inflation would not be a key factor for the Central Bank's decision on the refinancing rate at the nearest board of directors.

"I think that this factor will not influence seriously the decision-making, there are a lot of other important issues that, of course, will be taken into account when making their decision," Oreshkin said.

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