Maxim Reshetnikov, head of the Ministry of Economic Development, predicted that in the second quarter of 2023 (April-June), inflation could fall below the 4% baseline. The newspaper Kommersant made the prediction during a government meeting with President Vladimir Putin.
“We are starting from the fact that in the first quarter, at the end of the first quarter, as long as our peak prices in May leave the floor, inflation will fall significantly year-on-year, and we will see the figures in the second quarter. It will likely be even below our target level of 4%,” Reshetnikov said.
In addition, according to the Minister of Economic Development, the price increase rate at the end of 2022 was 11.9%. He noted that although the housing and communal services tariff indexation has been postponed from 1 July 2023 to 1 December 2022, these figures have been reached.
Elvira Nabiullina, Governor of the Central Bank of Russia, in the second half of December statedAnnual inflation in Russia for the March-May 2023 period may remain below the regulator’s target of 4%.
Putin on January 11 I saidHe said the government will continue to implement large-scale social and economic programs and plans this year aimed at improving the well-being of Russians.