Tuesday, 18 November 2014

Russia and Ukraine inflation to reach 9% and 20% respectively

Russia’s Head of the Ministry of Economic Development and Trade has said that 2014 inflation could reach 9% largely due to the Rouble declining 35-40%.

He further estimates inflation will reach 10% by the first quarter of 2015.

Meanwhile in Ukraine Oleg Ustenko from the Bleyzer Foundation said inflation for 2014 will exceed 20%.

He cites an outflow of foreign direct investments, decreasing of imports and exports and decreasing industrial production as the root causes.

If you told me those rates the other way around I would have found it more believable.