Russian Central Bank Governor Elvira Nabiullina said that January inflation in Russia could be the highest since April 2022. Nabiullina reported this at a press conference, reports DEA News.
At the same time, the head of the Central Bank said that although there is no exact data on January inflation,
“Weekly data shows that in January, the current rate of price increase may have peaked at the highest levels since April 2022 excluding periods when regulated tariffs were indexed,” he said.
According to Nabiullina, annual inflation is expected to decline significantly in the coming months due to the base effect, although the current rate of price increase is gradually accelerating. He stressed that the probability of falling below 4% from today’s 11.8% in the spring is high.
“This will reflect the exit from the calculation of the annual inflation of highs at the peak of the price increase in March-April 2022, not the current inflationary picture,” said the head of the regulator.
Elvira Nabiullina on the Russian economy will pass to grow by mid 2023.
Source: Gazeta
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