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Russia's Central Bank sees inflation accelerating towards target

Staff Writer |
Russia's inflation is seen gradually accelerating towards a central bank target of 4%in the second half of 2018, the central bank said in a monthly report on inflation.

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The central bank said inflation will pick up later this year from the 2.2% seen in January as the regulator continues cutting rates.

The central bank added that muted demand in the economy and declining inflation expectations have helped anchor inflation at low levels, Reuters reported.

By the end of the year, inflation is seen slightly below 4%, according to the central bank, which last cut its key rate to 7.5% earlier this month

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