The Ministry of Economic Development of Russia expects inflation to come in at 0.2-0.4% in February and 4.6-4.8% y-o-y, the ministry said in a weekly report.
"From February 6 through February 12 the inflation rate equaled zero. Our inflation forecast for February was revised down to 0.2-0.4% m-o-m and 4.6-4.8% y-o-y," said the report.
According to the data from the Federal State Statistics Service, last year the inflation rate in Russia slowed down to a record low of 5.4%. In line with MED's baseline scenario, which is used for budgetary purposes, inflation will stabilize at 4% in 2017-2019.
