Annual inflation in Russia may increase from May and accelerate in the summer. May be over 4% on an annual basis in the third quarter, writer TASS cites Kirill Tremasov, Director of the Monetary Policy Department of the Central Bank of Russia.
According to Tremasov’s forecasts, annual inflation will be 4.5-6.5% at the end of 2023, and 4% in 2024.
The regulator’s representative acknowledged that if the price increase this year is small, as it was this season, the annual rate could increase by 0.3-0.5 percentage points each month.
Thus, Tremasov confirmed the earlier prediction made by the regulator. May 18 In the Central Bank’s Monetary Policy Evaluation estimated Bringing inflation to the target level of 4% in 2024. In the document, it was noted that annual inflation decreased to 4% in 2017 and averaged 4.2% for the 2017-2021 period. The Central Bank accepted that the inflation in Russia will be 4.5-6.5% in 2023 and 4% in the future.
On May 17, Prime Minister Mikhail Mishustin announced that the annual inflation rate from May 2022 to May 2023 is 2.3%. This figure was 2.3%, the lowest level since February 2020.