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Central Bank expects a continued rise in the annual inflation rate

The Bank of Russia still expects a further gradual increase in annual inflation to the end of the year due to the exit of the calculation of the low values of the second half of 2019, according to the information-analytical comments of the regulator.

According to Rosstat, the annual inflation in June accelerated to 3.2% in may to 3% in April, the indicator stood at 3.1%,

"Until the end of the year, probably a gradual increase in annual inflation due to the exit of the calculation of the low values of the second half of 2019", - stated in the document.

The head of the Central Bank Elvira Nabiullina in mid-June said that because of the low base effect of last year may increase the rates of annual inflation. The peak annual inflation in the country may be in February 2021.

The Bank of Russia in April, gave a forecast of inflation by the end of the year in the 3.8-4.8%, however already in the end of June, it said, noting that the focus is on the lower bound of the range.