Inflation in Russia in 2016 to stay below six percent

The inflation in Russia will not exceed six percent, while the four percent inflation target for 2017 becomes realistic, Russian Prime Minister said, Sputnik International reported.

"The inflation keeps going down and will not exceed six percent at the end of the year. The four percent inflation target [for 2017], not so long ago considered unattainable, now seems realistic," Russian Prime Minister Dmitry Medvedev wrote in his article for a Russian journal "Voprosy Ekonomiki" (Economy Questions) published on Thursday. The prime minister also said that a timely transition to inflation targeting had allowed the Russian government to save the country's gold reserves and ensure the stability of the Russian monetary system.