Inflation in Russia at the end of the year will be below 14%. Such a forecast was presented to the Ministry of Economic Development. This figure is significantly less than the agency’s May forecast of 17.5%, representatives of the agency point out.
“We expect inflation below 14%,” the Ministry of Economics said “Izvestia”. As representatives of the department explained, taking into account the deflation recorded in the consumer market for the second month in a row, price growth at the end of 2022 will be significantly lower than the May forecast of 17.5 percent. As of the beginning of this week, the growth in prices in annual terms amounted to 15.01%.
Inflation in Russia slowed to 15.1% in annual terms in July. In June, its value was 15.9%, according to Rosstat. Earlier, the agency recorded an unconventional 0.35% deflation for June, this is the maximum monthly price decline since August 2017. Analysts predicted that the arrival of a new crop of vegetables and fruits on the shelves of stores would reduce the prices of some food products as much as possible.