MOSCOW (Reuters) – Russia’s central bank said on Monday that annual inflation could increase from its current level of 3.1% but that it expected disinflationary effects to gain momentum later this year.
The bank, which said it saw inflation at between 3.8% and 4.8% by the end of the year, said last month it expected inflation to rise towards its 4% target more quickly than expected.
Elvira Nabiullina, the governor of the Bank of Russia, will give a briefing on Friday about measures being taken to safeguard the country’s economy during the coronavirus pandemic.
(Reporting by Elena Fabrichnaya; Writing by Gabrielle Ttrault-Farber; Editing by Hugh Lawson)
