The Central Bank of the Russian Federation predicts that annual inflation in Russia will begin to decline gradually from the spring of 2024. This estimate is given in the report published by the Central Bank of Russia. report About monetary policy.
According to the regulator’s estimates, the annual inflation rate in the fourth quarter of 2023 will be 7.25%. At the same time, seasonally adjusted inflation is expected to exceed 4% on an annual basis.
The Central Bank believes that the decline in inflation will be facilitated by increasing the savings activities of the population in the face of increasing interest rates. In early October, the Bank of Russia raised its 2023 inflation forecast to 7-7.5% from the previous 6-7%. The regulator predicts inflation will fall to 4-4.5% in 2024. According to the Central Bank, inflation will remain around the targeted 4 percent in the long term.
Before that Putin compared The growth rate of Russians’ incomes with the rate of inflation.
Previously at the Central Bank saidHow do Russians evaluate inflation?