Russia’s inflation could hit 17% by March
January 14, 2015
MOSCOW (AFP) – Inflation in Russia could hit 17 percent this year, the deputy economy minister said Wednesday, as the ruble suffers on the back of slumping oil prices. “Peak inflation will come in March-April when year-on-year inflation could reach 15 to 17 percent”, Alexei Vedev was quoted as saying by the state-run TASS news agency. Russia’s budget depends heavily on revenues from oil and gas, and the ruble continued to fall as the price of a barrel of Brent fell to around $46 on Tuesday.