Inflation in Russia may exceed the official forecast of 12.4 percent at the year end. This was reported to “Interfax” by the Director of the Department of Macroeconomic Forecasting of the Ministry of Economic Development Kirill Tremasov.

      He also said that he agreed with the forecast of the Central Bank about the contribution of the anti-Turkish embargo to inflation at the level of 0.2-0.4 percentage points. According to him, the impact will be felt next year. “It will be fairly evenly distributed in the first half of the year, I think we will not see any apparent jump” - the official said. In addition, Tremasov stated that the current oil quotes were close to the conservative scenario of economic development for 2016 that was calculated based on the price of oil at $ 40 per barrel.