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Russia Is Facing Stagflation, Central Banker Says

Economic Growth Has Been Slowing Amid Low Demand and Prices for Its Commodities Export

Updated Jan. 15, 2014 10:38 p.m. ET

MOSCOW—Russia is suffering from stagflation—a troubling mix of stubbornly high inflation and flat economic growth—a top Russian central banker said, the first time a senior official has used the term to describe the country's economy in recent years.

"A number of emerging-market economies, including Russia, can speak of stagflation," Ksenia Yudayeva, the Bank of Russia's first deputy head, told an economic conference here...

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