Russian central bank sees inflation slowing down in early 2020

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Russian central bank

Moscow – Russian , on Wednesday is expected keep slowing down the first months 2020, the country’ central said a monthly analytical review.

“The Russia predicts a decline annual early 2020, including due the exhaustion the effect the value-added (VAT), increase in 2019.

“Given the current monetary policy, annual be in the range of 3.5-4.0 percent in the full year of 2020 and remain close 4 percent on,” it said.

According to Russia’ official statistics service (Rosstat), the inflation rate in Russia slowed down to 3 per cent in 2019.

The central noted that it was due to disinflationary factors, such as an increased supply, ruble appreciation, and weak demand.

In 2018, inflation in Russia jumped to 4.3 per cent from a record low of 2.5 per cent in 2017, after VAT increased to 20 per cent from 18 per cent.

This, the bank said, resulted in rising of certain goods, and the weakening of the ruble.