Russia's inflation trajectory near, above upper boundary of Central Bank's forecast of 8.5% for 2024 -Deputy Governor Zabotkin

MOSCOW. Dec 3 (Interfax) - The trajectory of Russia's inflation is forming near the upper boundary of the Central Bank's forecast of 8.5% for 2024, Central Bank of Russia Deputy Governor Alexei Zabotkin told journalists.

"The current trajectory is apparently close to or above the upper boundary," Zabotkin said on the sidelines of the "Measuring the population's inflation expectations at the Central Bank of Russia. 15 years of monitoring: results and development" conference.

The Central Bank in October raised the inflation forecast to 8%-8.5% for 2024 and to 4.5%-5% for 2025, and the regulator projects that inflation should return to the target of 4% in 2026.