Russia's tariffs to be increased due to inflation in 2017

The Russian Ministry of Economic Development in the updated forecast for 2017-2019 proposes to adjust gas tariffs for industry and population in 2017 at the level no higher than 3%, the Russian Economic Development Minister Alexey Ulyukayev said.

"It will be 3% for both industry and population," he said.

The minister also pointed out that inflation in Russia may be lower than 5.8% projected in the adjusted forecast by the end of this year.

"I think inflation will be 5.8% at most, maybe slightly lower," TASS cited him as saying.