Putin: inflation may not exceed 15% this year

Inflation in the Russian Federation has slowed down recently, by the end of 2022 it may not exceed 15%, Russian President Vladimir Putin said on Wednesday at a meeting of the State Council Presidium on Social Issues.

“By the end of 2022, in any case, we proceed from this, (inflation) will not exceed 15%,” he said.

The President also noted that the Russian economy “has dynamics much better than predicted by some experts,” and the unemployment rate, he said, even fell to 4%.

The fact that inflation by the end of 2022 may not exceed 15% last week was first announced by the assistant to the President of the Russian Federation Maxim Oreshkin.

“In general, there were a lot of negative forecasts for inflation – 20%, 25% inflation. Now we can confidently say that by the end of 2022, inflation in our country will not exceed 15%,” he said, speaking at the New Horizons forum “. “We see how our weekly inflation is now slowing down, in the coming weeks we will already enter a fairly stable deflationary trend,” Oreshkin assured.

According to Rosstat, since the beginning of the month by May 13, prices have increased by 0.15%, since the beginning of the year – by 11.84%.

The Ministry of Economic Development predicts (forecast from mid-May) inflation in the Russian Federation in 2022 at the level of 17.5%. The ministry’s forecast is lower than the Central Bank’s expectations from the end of April (18-23%), which is explained by the fact that in the first half of May, weekly inflation slowed down sharply.

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