inflation in the Russian Federation will be at fairly high levels in 2024 – Kommersant

Average annual inflation in Russia in 2024 is expected to be 7.2%, said the head of the Ministry of Economy, Maxim Reshetnikov, during a speech at the Federation Council. According to him, in general, inflation next year will remain at high levels.

“Our inflation in December to December is 7.5%, the average annual inflation for next year is 7.2%. December to December 2024 – 4.5%, we expect that it will decrease, but nevertheless, it will be at fairly visible levels throughout the next year,” the minister said (quoted by TASS).

According to the forecast of the Central Bank (CB), inflation in Russia will continue to grow in the coming months and will reach 6–7% by the end of 2023. Regulator explained this is due to the weakening of the ruble and the fact that domestic demand is outstripping supply capabilities. The Ministry of Economy believes that inflation in 2024 will drop to 4.5%.

Details – in the material “Kommersant” “Growth with all the money”.

Laura Keffer