Oreshikin sees inflation slowdown in Russia

Russia's inflation would be close to 3% by the end of the year, the county's Economic Development Minister Maxim Oreshkin said during the Russia Calling! business forum.

"This year we see that inflation will be closer to 3%. It is significantly lower than our and central bank expectations," the minister said.

Slowing inflation also signals the lack of demand in the economy, Gazeta.ru reported.