Annual inflation in Russia may reach its peak in the second quarter of this year. This was reported by TASS With reference to Andrey Gangan, First Deputy Director of the Monetary Policy Department of the Central Bank of the Russian Federation.
“We assume that the maximum possible annual inflation could occur in the second quarter of this year,” a representative from the Central Bank said.
Before that Rosstat reportedIt was stated that annual inflation in Russia increased from 7.44 percent in January 2024 to 7.69 percent in February 2024.
In February this year, food product prices increased by 0.77 percent compared to January last year, while the annual price increase was 8.08 percent. The price of non-food products increased by 0.26% monthly and 6.59% compared to February 2023. The cost of service increased by 1.06 percent as of January 2024 and 8.45 percent on an annual basis.
On February 28, the Central Bank of Russia for the first time published Details of the discussion on the key rate decision. It turned out that some board members expressed their opinion about the possibility of an interest rate cut a little earlier than the second half of the year.
Previously reportedIt is estimated that the increase in Russia’s gross domestic product (GDP) in 2024 will be 1.5% compared to the 2023 level.