Inflation by the end of 2018 will be around 4%, said the Ministry

© RIA Novosti / Ramil to Setdiscoverable in photobacteria of economic development in Moscow. Archival photoInflation by the end of 2018 will be around 4%, said the Ministry© RIA Novosti / Ramil to Setdiscoverable the image Bank

Inflation in Russia by 2018 will be around 4%, there are risks slightly exceed this figure, but not target, said the head of Ministry of economic development of Russia Maxim Oreshkin.

The current official forecast Ministry of inflation for 2018 is 3.4%, but the November report «the economy», the Ministry noted that inflation for the year will amount to 3.7% to 3.8%. The Central Bank forecast inflation to 2018 — 3,8-4,2%, the long-term target for inflation of about 4%.

«Even if you look at what the forecast was given by the Central Bank, and his forecast was 3.8 to 4.2 percent, I believe that any of these numbers fit into the target. The tenth is not an issue when we do not fit. That’s when it was 11.7 per cent — we missed the target, and even when inflation is 7% — we do not fit. And all that about 4% is within the target range,» said Oreshkin journalists.

According to the Minister, to predict inflation with accuracy to a tenth of a percent now is guesswork, as the situation depends on the dynamics of prices for vegetables.

«If you look last week, there is much jumped the prices of vegetables, they will go a little faster or a little slower — this will determine the specific value of inflation… As we do in the summer was a deviation down, it was largely because of the vegetables, so now there may be deviation in the other direction. In General, it does not describe the overall inflation picture. Overall, as a whole, that we are near the target range, and while major deviations are not expected,» he explained.

Answering the question of what inflation rate is expected at the end of 2018, the Minister said: «around 4%». However, he did not rule out the possibility that inflation could be above 4%. «The risks are there, to deny this is silly,» he concluded..

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