August 2, 2019 / 1:28 PM / 20 days ago

Russian cenbank sees annual inflation reaching 4% in Q1 2020

MOSCOW, Aug 2 (Reuters) - The central bank plans to reach its target for inflation, its main task, in the first quarter of the next year, when the annual growth in the consumer prices is expected to slow to 4% from 4.7% now, the central bank said in a statement on Friday.

In the statement, the central bank also said the downward trend in inflation may persist until the second quarter of 2020.

The central bank added it now sees 2019 GDP growth closer to lower end of its forecast of 1-1.5%. (Reporting by Elena Fabrichnaya and Anna Rzhevkina; Editing by Alison Williams)

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