In April 2017, the inflation rate has virtually reached the Bank of Russia's 4% target, CBR chairwoman Elvira Nabiullina said at a meeting held by the Finance Ministry's extended collegium.
"As of April 17, 2017 inflation slowed down to 4.1% y-o-y, which is very close to the objective," she said.
Elvira Nabiullina also noted that inflation ran at 4.3% in March.
To remind, under Nabiullina's leadership the Bank of Russia made a shift towards inflation targeting in 2015. The 4% inflation rate was set as a landmark, and this level was intended to be reached within two or three years.