Annual inflation in Russia in the first half of next year may temporarily fall below the target of 4 percent. This was announced at a press conference by the head of the Central Bank Elvira Nabiullina.
Nabiullina said inflation could fall due to the high base effect.
“We do not rule out that annual inflation in the first half of next year will temporarily fall below the target due to the high base effect,” – said the head of the Central Bank.
This means that when comparing the cost of consumer goods and services in March and April 2023 with the cost in March and April 2022, when there was rush demand and a sharp rise in prices, one can arithmetically get a low figure.
“In this regard, annual inflation will be like a rear-view mirror reflecting the situation in 2022,” – concluded Elvira Nabiullina.
Earlier it was reported that the Central Bank lowered the key rate to 7.5%.
