Russia's annual inflation to decelerate to 4.5% in March 2023, 4.4% in June; to accelerate to 5.5% in Dec 2023 - Economic Development Ministry

MOSCOW. Sept 28 (Interfax) - Russia's Economic Development Ministry forecasts annual inflation to decelerate to 4.5% at the end of March 2023 and 4.4% at the end of June 2023, and then to accelerate to 5.5% at the end of December 2023, according to the ministry's macroeconomic forecast sent to the State Duma as part of the budget package.

As previously reported, the ministry forecasts annual inflation of 12.4% at the end of December 2022, decelerating from 13.9% as on September 19, 2022.

According to the ministry's quarterly forecast for 2023, prices should rise 2.2% in Q1 2023, 1.2% in Q2 2023, 0.5% in Q3 2023, and 1.5% in Q4 2023.