Russia hits historic inflation low of 5.5 pct: PM

By Emre Gurkan Abay

MOSCOW

Russia’s prime minister said Thursday that inflation in 2016 will stand at a historic low of around 5.5 percent.

"Inflation in the country fell to the level of 5.5 percent. This is the lowest level in the entire history" of post-Soviet Russia, Dmitry Medvedev told Russian state-run television Rossiya-24.

Medvedev said he hoped the Russian economy would grow in 2017.

He added that Russia expects a 0.5 percent fall in gross domestic product for 2016.

Medvedev said they have tried to make structural changes to the economy.

"However, this is not an easy process," he added.