Russia’s annual inflation cools to 2.55%Annual inflation in Russia slowed to 2.55% on April 24 from 2.82% a week earlier, according to the Ministry of Economic Development.
The reading is the lowest since March 2020, when inflation in Russia was 2.5%.
According to the estimates of the Federal State Statistics Service, prices had risen 1.99% by April 24 since the beginning of the year and 0.31% since April.
In 2023, the Ministry of Economic Development projected a significant slowdown in inflation. The figures are likely to be even below the target level of 4% in Q2 2023, "at least for some period," said Russian Minister of Economic Development Maxim Reshetnikov.
The Ministry forecasts inflation at 5.3% this year, while in 2024-2025, the price growth rate is expected to be at 4%.
Subscribe to Russian Market
