Inflation in Russia Slightly Accelerated in Early 2019, Now Showing Downward Trend

05:02' PM - Friday, 07/06/2019

Russia's inflation slightly increased at the beginning of 2019 but is now showing a trend toward a decline, Russian President Vladimir Putin said on Thursday.

The president stressed, citing the Russian Federal State Statistics Service, that, between 28 May and 3 June, weekly inflation was at 0.1 percent.

Putin added that last year Russia's inflation amounted to 4.3 percent, describing it as a good result for the country's economy.

Russian economic growth accelerated to a six-year high of 2.3 percent in 2018, according to The World Bank, despite the tightening of economic sanctions and pressure on financial markets. The acceleration was also supported by the rise in oil prices, a solid contribution from net exports, energy-related construction projects.

The forecast for Russian GDP growth for 2020 and 2021 remain unchanged - the World Bank is expecting the rate to rise to 1.8 percent, noting, however, that growth of private investment could remain sluggish. - Source: Sputnik -

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