Russian econ ministry raises 2026 inflation forecast from 5.2% to 6.8%, predicts return to 4% in 2027 - Reshetnikov

MOSCOW. Sept 24 (Interfax) - The Economy Development Ministry has raised its 2026 inflation forecast for Russia to 6.8% from 5.2% in the May version of the forecast, Russian Economy Development Minister Maxim Reshetnikov said in a speech at a government meeting.

On Thursday, the Russian government reviewed the updated 2026-2029 macroeconomic forecast submitted by the ministry.

The inflation forecasts for 2027-2029 were left unchanged at the 4% target.

"We forecast 6.8% inflation at the end of 2026. By the end of 2027, we expect it to return to 4%, as predicted by the Central Bank of Russia," Reshetnikov said.

As reported, Rosstat data show that inflation in Russia stood at 4.81% from the beginning of the year to September 21, while annual inflation was in the 6.2%-6.3% range as of September 21.

In late September, the CBR reaffirmed its Russian inflation forecast from July, in the range of 6%-7% for 2026 and 4% for 2027-2029.