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the ruble. During the first quarter of 2015 inflation might be higher than 10%. Nevertheless, inflation and inflation expectations are forecasted to decrease as the

redundant volatility, create prerequisites for financial stability risks, and stable depreciation and inflation expectations. The measures taken by the Bank of Russia will facilitate the

and sale transactions with individu rate of a respective currency, interest rates, inflation rate, als by authorized banks and their branches ranged by an average

2014, headline pace of inflation and depreciation of the ruble consumer inflation reached its record high in 2014 by affecting the inflation and exchange of

oil prices. Inflation targeting and floating ruble exchange rate will make economic growth, inflation and budget more stable against oil price fluctuations. Effective inflation decrease

and inflation and inflation expectation show a stable downward trend, the Bank of Russia will be ready to start monetary policy easing. In September-October, inflation

US dollar in 2013 ...................... 18 3. GDP by expenditure ............................................................................................. 21 4. Inflation, core inflation, and change in administered service prices ................................. 22 5. Merchandise trade and

one of the most important eral government securities (placement redemption) and foreign inflation indicators. The CPI reflects a change of the overall level government loans

inflation expectations during 2015, the baseline scenario predicts a gradual easing of the monetary policy. The more pronounced the downward trend in inflation and inflation

certain in August. Inflation grew to 7.6%. Core inflation food products included in the calculation of core climbed to 8.0%. inflation and price