Russian inflation to decline in late ’24 – finance minister

Russia’s inflation rate is expected to slow down in the second half of 2024, TASS reported citing Russian Finance Minister Anton Siluanov on Thursday.

Speaking at the St. Petersburg International Economic Forum (SPIEF), Siluanov expressed confidence in the effectiveness of the Bank of Russia’s anti-inflationary measures implemented earlier in March.

Russia’s year-on-year inflation rate did not change significantly since the beginning of March. However, as of April 22, it amounted to 7.8 per cent, nearly double the 4 per cent target set by the Bank of Russia,