The Deputy Prime Minister of the Russian Federation commented on the measures that the Central Bank is resorting to in order to curb inflation.
The increase in the key rate is beginning to bear fruit, believes Alexander Novak.
The official expressed this opinion at the Russian Economic Forum, RIA Novosti reports.
He recalled that in 2024, peak inflation values had already reached 9.2%. This was the rate of price growth in July.
However, already in August, inflation began to slow down, and as of November 1, its level was already 8%.
Consequently, the tight credit policy that the Central Bank has been resorting to recently has begun to bear fruit.
Let us recall that the head of the regulator, Elvira Nabiullina, motivated the increase in the key rate to 21% by the fact that inflation in Russia is growing significantly higher than the forecast made in July.
This is why, in order to return inflation to the target indicator, the Central Bank is resorting to further tightening of policy.
