Inflation Rate in Russia for 2014 to Be Around 8 Percent for Year End: Central Bank Head

MOSCOW, October 2 (RIA Novosti) – The growth in Russian consumer prices for the end of 2014 is forecasted to be approximately eight percent, Central Bank head Elvira Nabiullina said Thursday.

“It’s already obvious that we will not reach our goal on inflation this year; according to our assessments, inflation will be around 8%,” Nabiullina said during the Russia Calling investment forum in Moscow.

Earlier, Russia expected a seven-percent inflation rate for 2014.