Russia hikes inflation forecast, cuts 2015 growth

Russia's Economy Ministry has raised its 2014 inflation forecast to 7-7.5 percent from 6 percent, Deputy Economy Minister Alexei Vedev told a briefing on Tuesday.

Read MoreUkraine & Russia talks: Don't get your hopes up

Kirill Kudryavtsev | AFP | Getty Images

The ministry left its 2014 gross domestic product (GDP) growth forecast unchanged at 0.5 percent, while cutting the growth forecast for 2015 to 1 percent from 2 percent, Vedev said.

Read MoreRussia is already feeling sanctions pain

Contact Economy


    Get the best of CNBC in your inbox

    Please choose a subscription
    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.