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Top Product Price Increase in Russia is predicted to be in March-April

Total price growth can be up to 15%-17%.

17.Jan.15 7:58 AM
By Abigail Richards


Top Product Price Increase in Russia is predicted to be in March-April
Experts predict the peak of product price increase to be in March-April. At the same time the overall price growth is believed to be up to 15%-17%. Such statement was made by the deputy head of Ministry of Economic Development Alexey Vedev.

Vedev explained situation saying that the main reason of such price increase is high level of import components. He also added that they hope government will be able to keep the level of inflation preventing it from further growing. The level of inflation in accordance with official information is 7.5% in 2015. Experts hope that it will not become more than 9% during the current year.

It should also be mentioned that Minister of Economic Development Alexey Ulyukaev stressed that the level of inflation will be double-digit throughout the whole 2015.

The level of inflation in 2014 was 11.4% in accordance with official statistics. This was the first time when inflation level became double-digit since crisis in 2008. Product price has increased by 15.4% in 2014 while other products price has grown by 8.1%.

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