Russia's Central Bank concerned over inflation volatility

Russian Central Bank is concerned over a high volatility of inflation, the bank's chief Elvira Nabiullina said

"According to the latest data, inflation amounts to 2.6%. The slowdown is linked to both fundamental and temporary factors with the latter being more important," she said.

Nabiullina added that in June, they had inflation at 4.4%, which is about 50% more than now. "This is a dramatic fluctuation," Prime cited the official as saying.

She also said that the central bank projects inflation at 2.5-2.7% in 2017 and expects that it will reach a 4% target in 2018.