"The savings rate began to rise, in the coming months we expect that the situation related to the credit impulse will begin to work more actively," Tremasova quoted TASS as saying.

He said that “in the part of mortgage lending there is already a turning point, but in the part of unsecured consumer lending these tendencies are not so obvious”.

“When it works, then it will be possible to say that inflationary trends are beginning to steadily turn downward.

We expect this to happen in the near future, ”added Tremasov.

Earlier, the press secretary of the Russian President Dmitry Peskov said that reducing inflation to 4% is a priority for Russian leader Vladimir Putin and the government.