(MENAFN) Inflation in Russia hit a record low of 2.5% compared to the last year, the country's official statistics service Rosstat said Wednesday.

The rate started to gradually drop from a peak of 12.9% in 2015 to 5.4 % in 2016.

On December, the Russian central bank stated that it expected annual inflation to reach 3% at the end of 2017 and draw near 4% by late 2018.

The Russian economy is improving and the positive momentum continues, President Vladimir Putin said Wednesday when visiting a railway carriage factory.

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