MOSCOW, January 14 (Sputnik) – Russia's inflation in 2015 will peak in March and April, when it will reach between 15 and 17 percent, Russian Deputy Economic Development Minister Alexei Vedev said Wednesday.
"The peak of inflation will probably be in March-April, and I hope lower than 20 percent year-on-year at the level of 15 to 17 percent," Vedev told journalists.
In December 2014, Russian Central Bank head Elvira Nabiullina said the inflation rate in Russia was expected to remain at 10 percent for the first quarter of 2015. According to a European Commission forecast, it may take until 2016 for it to fall to 6 percent.
Russia has seen a rapid depreciation of its currency in recent months due to falling oil prices and geopolitical tensions related to the Ukrainian crisis.
In December, Russian President Vladimir Putin said that the country's economy will inevitably recover from the current downturn in the next few years, adding that it may rebound as early as the first quarter of 2015.
