Conspiracy animals caused inflation

 Ministry of Finance: inflation peak in 2014 could reach 7.6% The Finance Ministry does not rule out that the peak year inflation could reach 7.6% due  higher prices for livestock products . On this, as the "Interfax" told the director of the Department of Finance long-term strategic planning Maxim Oreshkin . At the same time , he said , the department is still waiting for " the peak of inflation at 7.5 % in May and June , the continuation of the same rapid growth in pork prices may raise this figure to 7.6 %.""Inflation at 7.3 % in April in line with our expectations. Carryover effect of a weak exchange rate on inflation remains moderate , inflation , primarily due to the rapid increase in prices of some food products , primarily milk and milk products and pork " - said the official .
The forecast for the end of the year remains unchanged - from 5 % to 6% , he said. "Raising the key rate of the Bank of Russia and the growth of money market rates will have a significant deterrent effect on core inflation in the second half ," - says Oreshkin .   


According to Rosstat, inflation in Russia in April 2014 was 0.9 % after 1.0% in March , 0.7 % in February and 0.6 % in January. In January - April 2014 inflation stood at 3.2% against 2.4% in January-April 2013 , including the April 2013 inflation was 0.5%. Thus, the annual inflation rate in April 2014 increased to 7.3% from 6.9 % in March , 6.2 % in February and 6.1% in January.In addition , an official confirmed that the April data confirm the high probability of a technical recession in the second quarter of 2014 . Finance Ministry expects GDP decline in the second quarter of 2014 with the cleaning of seasonality , ie the economy will shrink for two consecutive quarters ."The first economic data for April results indicate weak economic dynamics : weak performance recorded for electricity generation , transport and gas production. Indicators of business activity also does not add optimism. Everything points to the fact that the second quarter GDP will decrease compared to last quarter with Excluding seasonal second consecutive time , "- he said.The growth of GDP in annual terms , as predicted by the Ministry of Finance , in the second and third quarters to slow down almost to zero , and it is possible that GDP growth will go into the negative region .Last week the head of the International Monetary Fund (IMF ) in Russia Antonio Spilimbergo said that , according to the fund , Russia's economy is already experiencing a recession. " If we stick to the definition of recession as negative growth for two consecutive quarters , now Russia at this point is experiencing a recession ," - he said.Economic Development Minister Alexei Ulyukayev still believes, however , that the expectation of a technical recession in the second quarter of 2014 until the ungrounded . " We do not yet rated . This statement is ungrounded . Maybe yes, maybe no," - said Ulyukayev.In early April, his deputy Klepach suggested that the Russian economy is not threatened technical recession in the first and second quarters of this year. Klepac later , commenting on the decision to raise the CBR key rate to 7.5% from 7% said that it increases the risk of a recession in the economy.