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.

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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.

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