Vladimir Putin predicts slowing inflation

Inflation in Russia is going down, President Vladimir Putin said at the Eastern Economic Forum plenary session.

President of Russia Vladimir Putin. Alexey Danichev / RIA Novosti

At present, inflation is just over 14%, but by the end of this year, it will reach an annual rate of 12%, Vladimir Putin said.

However, the situation is radically different in Western economies, where there is a reverse trend, spiraling inflation that breaks all records.

As many of our experts think, by the second quarter of 2023, Russia will most likely reach the target inflation rate. Some say it will be 5–6%; others say it will go down to 4%, the President added. According to the Ministry of Economic Development estimates, inflation is slowing down in annual terms. Last summer, the ministry predicted it would reach 13.4% by the end of the year.

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