Central Bank expects annual inflation to slow down to 3.5% in April
[ad_1]
Annual inflation in the Russian Federation will decrease in April to 3.51%, in the future, price growth will again accelerate significantly, should from the materials of the Bank of Russia.
“In April, the annual inflation indicator will decrease further due to the exit from the April 2022 growth calculation window. In the following months, on the contrary, the low monthly growth rates of the second half of 2022 will gradually come out of the calculation of annual inflation, and the current price increase will be more significant “, the message says.
In the baseline scenario, taking into account the ongoing monetary policy, annual inflation will be 5–7%, return to the target of 4% in 2024 and stay close to 4% in the future.
Inflation in March 2023 was 3.51% in annual terms after 10.99% in February. The last time the consumer price index fell below 4% was in 2020 (it was 3.99% in October). Since the beginning of 2023, prices have increased by 1.67%.
On April 11, President Vladimir Putin, during a meeting with the government, indicated that inflation in annual terms by the end of April would fall below 3%. According to the forecast of the Ministry of Economy (it should be updated in April), inflation is expected to reach 5.5% this year, and in 2024 it will drop to 4%. The Bank of Russia expects it to be 5-7%.
[ad_2]
Source link
