March 21, 2017 / 1:46 PM / 4 months ago

Russian deputy finance minister says inflation may reach 4 pct target in H1

1 Min Read

MOSCOW, March 21 (Reuters) - Annual inflation in Russia could reach a 4 percent target as soon as the first half of the year, Russian Deputy Finance Minister Vladimir Kolychev told journalists on Tuesday.

The central bank is aiming for inflation of 4 percent by the end of 2017. This target could be reached in the first half of the year if salary growth slows and the currency rate allows, Kolychev said. He also said that the ministry's foreign currency purchases in April would be higher than in March. (Reporting by Andrey Ostroukh; Writing by Polina Nikolskaya; Editing by Alessandra Prentice)

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