ST. PETERSBURG, May 22. /ITAR-TASS/. The consumer price inflation in Russia is passing its peak for 2014, standing at 7.5% in May, Economic Development Minister Alexei Ulyukayev said at the St. Petersburg International Economic Forum on Thursday.

“The peak will be over in the end of this month, it stands at 7.5% in comparison with the end of May last year,” he said. “We assume that by the end of the year the inflation will gradually fall to 6%, and this will be better than we saw last year,” he said.