March 13, 2019 / 10:02 AM / 3 months ago

Russian inflation in March seen at 5.2-5.4 y/y - econ ministry

MOSCOW, March 13 (Reuters) - Russia’s economy ministry said on Wednesday that consumer inflation in March would stand at between 5.2 and 5.4 percent year on year, compared with 5.2 percent in February.

Inflation is likely to remain at around 5.4 percent between March and May, before slowing to 4.3 percent by the end of this year, the ministry said in a monthly report on inflation.

In month-on-month terms, inflation in March is expected to stand between 0.3 and 0.4 percent, compared with 0.4 percent in the previous month, the ministry said.

The Russian central bank, which holds its key rate decision on March 22, is closely monitoring inflation after having made two rate hikes last year in an attempt to keep it under control. (Reporting by Daria Korsunskaya Writing by Gabrielle Tétrault-Farber Editing by Andrey Ostroukh)

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