The deputy chairman of the Central Bank called for returning inflation to the target level of 4% as soon as possible

First Deputy Chairman of the Bank of Russia Vladimir Chistyukhin said that inflation in the Russian Federation needs to be returned to the target level of 4% as quickly as possible. He said that returning to the target will allow for faster implementation of investment projects, reports TASS from the exhibition-forum “Russia”.

According to the report of the Ministry of Economy of the Russian Federation, consumer prices at the end of December 2023 in Russia grew up by 7.42% by December 2022. From January 1 to January 9, 2024, annual inflation in the Russian Federation amounted to 7.44%, the department reported.

At the same time, it follows from the report that in December, compared to November, the growth of consumer prices in Russia slowed down by 0.73%. At the same time, fruit and vegetable products in monthly terms rose on average by 6.08%. How notes Rosstat, according to the results of December last year, eggs rose in price by 61.35% year on year.

The Bank of Russia’s baseline scenario assumes that in 2024 inflation will approach the target value of 4%. The head of the regulator, Elvira Nabiullina, said that inflation will decline from the spring of 2024, but for several quarters it is necessary to adhere to a strict monetary policy.

Read more about the dynamics of the Russian economy and monetary policy in the Kommersant article. “GDP accurate to direction”.

Erdni Kagaltynov