Russian inflation to exceed central bank’s forecast for ’24

Russia’s inflation rate is likely to surpass the upper limit of the central bank’s 8-8.5 per cent forecast for 2024, according to Deputy Governor Alexey Zabotkin.

“The current trajectory is close to or above the upper bound,” Zabotkin stated.

Rosstat data shows inflation at 0.36 per cent for November 19-25, with an annual rate reaching 8.64 per cent as of November 25, 2024.

The central bank’s latest projections also suggest inflation staying within the 8-8.5 per cent range, though current trends may push it higher.

Attribution: TASS

Subediting: M. S. Salama