Ulyukayev expects 7 to 7.5% inflation in 2016

Inflation in Russia by the end of this year will amount to 7-7.5%, Minister of  Economic Development Alexei Ulyukayev said in an interview to NTV.

"I do not think that the evaluation of 7.5% is optimistic. I think that an estimate of 7.5% is a very realistic assessment of the level of inflation at the end of the year," RBC quotes him as saying.

"It is high, it is very high, but more recently it has been catastrophically high, in the past year we had 12.9%,’’ the  the Minister recalled.