May 18, 2020 / 6:01 PM / 16 days ago

Russian central bank says inflation could accelerate from current 3.1%

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 Tétrault-Farber; Editing by Hugh Lawson

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