By Olga Razumovskaya

MOSCOW--Russian inflation will stand at between 5.7% and 5.8% in 2016, President Vladimir Putin said on state TV Tuesday.

"Let me remind you that in recent history the lowest inflation figure we've had was in 2011 when it was 6.1%. This year it will likely be below 6% which is good," he said.

The government's official prediction for inflation this year is 5.8%. In early November former economy minister Alexei Ulyukaev said that inflation was likely to be below the government's target at 5.5% in 2016, and was on track to reach the central bank's 4% inflation target next year.

Write to Olga Razumovskaya at

(END) Dow Jones Newswires

November 22, 2016 08:46 ET (13:46 GMT)Copyright (c) 2016 Dow Jones & Company, Inc.