11 Jan 2023 16:46

Inflation in Russia reaches 11.9% in 2022, annual inflation could temporarily drop below 4% in Q2 - Reshetnikov

MOSCOW. Jan 11 (Interfax) - Inflation in Russia totaled 11.9% in 2022, Russian Economic Development Minister Maxim Reshetnikov said at a meeting the president held with members of the government.

Annual inflation will slow sharply at the end of the first quarter of 2023 amid the high base of March 2022 and could temporarily fall below the target of 4% in the second quarter, Reshetnikov said.

"The latest information has just come in already on the results of the year. We have inflation below 12% [in 2022], to be more precise with rounding - 11.9%," he said.