The head of the Ministry of Economic Development (MED) told when inflation will decrease in Russia.
Maxim Reshetnikov expects that by the end of this year the Central Bank will be able to curb inflation.
The Ministry of Economic Development predicts that by the end of 2024 this figure in Russia will be 5.1%, TASS reports.
Reshetnikov noted that the Bank of Russia also expects inflation to decline by the end of 2024.
But the Central Bank revised its forecast on July 26. The regulator believes that the annual indicator will be within 6.5–7%.
In 2025 and 2026, inflation will be at a level acceptable for the Central Bank of 4%, according to the forecast of the Ministry of Economic Development.
In August, the agency plans to release an updated forecast for inflation in Russia for the coming years.
Against the backdrop of changing expectations for annual inflation, the Central Bank changed the key rate, raising it by 200 basis points at once – to 18%.
At the same time, the regulator did not rule out that a decision to reduce the rate would be made as early as 2024. The peak of inflation in Russia was predicted for July.
