Annual inflation in Russia will remain at 'visible level' almost all of 2024, average annual inflation in 2024 expecting at 7.2% - Reshetnikov

MOSCOW. Sept 25 (Interfax) - Annual inflation in Russia will remain at a fairly "visible level" all of next year after rising to 7.5% by the end of 2023, with average annual inflation in 2024 forecast at 7.2%, despite the fact that it will fall to 4.5% by December 2024, Economic Development Minister Maxim Reshetnikov said at a meeting of the Federation Council Committee on Economic Policy.

"Our December 2023 inflation when compared to December 2022 is expected to be 7.5%, the average annual inflation next year is projected at 7.2%. So we expect the year-on-year December figure at 4.5%, we expect it to decrease, but, nevertheless, it will be at rather visible levels all of next year," he said when asked about inflation.