The fall in the value of ruble is sure to bring higher prices of consumer goods, leaving Russians to prepare for higher inflation, the Moscow Timesreports. TheBank of Russiawas forced to halt planned interest rate cuts, as a period of muted price rises comes to an end. The regulator expects inflation to climb above its 4% target by the end of the year. “Taking into account the volatility in the foreign exchange market, the acceleration of inflation from the current low level may begin earlier than expected,” Russia’s Economy Ministry said Tuesday. The rate of inflation has halved over the last 12 months, coming in at just 2.3% in February, and the. Read more...
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