Economic Development Ministry generally agrees with Central Bank of Russia's inflation forecast of 7%-8% for 2025, its own estimates to be prepared in March - minister

NAYPYIDAW. Feb 24 (Interfax) - The Economic Development Ministry generally agrees with the Central Bank of Russia's new forecast for inflation in 2025 within the range of 7%-8% and will prepare its own estimate in March, Russian Economic Development Minister Maxim Reshetnikov told journalists.

"We will now review our own forecast. Based on our assessment, the range is approximately the same," Reshetnikov said regarding the new Central Bank inflation forecast of 7%-8% for 2025 and the ministry's expectations.

"It's too early to name specific figures. We will be preparing our forecast in March," he said. Unlike the Central Bank, Economic Development Ministry presents a specific number rather than a range.

The government and the Central Bank are taking coordinated measures to contain inflation, he said.

"We are all taking action together [the government and the Central Bank], but the shift in consumer preferences is quite significant. On the other hand, supply needs to be expanded, and we are in constant dialogue with the Agriculture Ministry on this," he said.

According to the schedule, the Economic Development Ministry is expected to present its updated macroeconomic forecast in April, including projections for GDP dynamics, inflation and the ruble exchange rate. However, the forecasting process begins in March.