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Inflation in Russia will start to decline in mid-1H 2021, says Central Bank

10 December 2020 09:03 (UTC +04:00)

Inflation in Russia will begin to decline "in the middle of the first half of 2021" after passing local highs, according to the files of the research and forecasting department of the Bank of Russia, APA reports citing TASS.

"In November, annual inflation exceeded 4% and is likely to begin to decline only in the middle of the first half of 2021 after passing local high values. This is partly due to the effect of a low base," the regulator’s experts say.

They added that as for consumer prices, since March 2020, the effect of the weakening of the ruble has manifested itself slower and longer than "in previous episodes."