Russia's Central Bank Sees Inflation Peaking in June

Russia's Central Bank expects consumer price inflation to peak at between 7.7 percent and 7.9 percent in June before slowing to 6.8-7.0 percent by September, according to a policy document published this week.

The inflation rate is significantly higher than the Central Bank's target of a 5 percent rise in consumer prices, with the increase spurred by a weaker ruble and an asset sell-off on emerging markets earlier this year.

The bank also said it expected quarterly GDP growth to come in at around zero for the second quarter, excluding seasonal factors.

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Economy Minister Says Russia Could Revise 2014 GDP Forecast Upwards

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