Reshetnikov: inflation in the second quarter may fall below 4%

The head of the Ministry of Economy Maxim Reshetnikov announced the final data for 2022: inflation was 11.9%. At a government meeting with President Vladimir Putin, he said that at the end of the first quarter, inflation will drop significantly. In the second quarter, inflation may even be below the key indicator of 4%.

“We really have received operational information now. By the end of the year, our inflation is below 12%, to be more precise – 11.9%. This is despite the fact that we have postponed the indexation of housing and communal services tariffs from July 1, 2023 to December 1, 2022,” the head of the Ministry of Economy said.

“We proceed from the fact that in the first quarter, at the end of the first quarter, inflation will significantly decrease year on year, insofar as our peak prices in May leave the base, and in the second quarter we will see the figures that will most likely be , even below our target level of 4%, at least for some period,” Mr. Reshetnikov added.

16 December Head of the Bank of Russia Elvira Nabiullina statedthat annual inflation may slow down in the coming months. According to her forecast, in the spring the figure may fall by 4%. According to the regulator, by December 12, inflation in Russia rose to 12.7% in annual terms. The regulator predicts inflation in 2023 at the level of 5-7%.

Economic forecast for 2023 – in material “b”.

Erdni Kagaltynov