Russia’s annual inflation rate stood at 7.42 percent by the end of 2023, the Federal State Statistics Service (Rosstat) said on Friday.
The annual inflation rate in Russia edged down to 7.42 percent in December, compared with 7.48 percent in the previous month, according to a report released by Rosstat.
The inflation level was consistent with the central bank’s 7.0-7.5 percent forecast, but well above the 4 percent target.
The Bank of Russia said earlier that given the monetary policy stance, Russia’s annual inflation will decline to 4.0-4.5 percent in 2024 and will stabilize close to 4 percent further on.
