“We are very concerned about the level of inflation and inflationary expectations in Russia - they have returned to the highs of the second half of 2016,” RIA Novosti quoted Nabiullina as saying at the Reuters Next forum.

At the same time, she noted that the situation is not as dramatic as in 2014, but the Central Bank is ready to take the necessary steps to bring inflation back to the target near 4%.

Earlier, Russian Finance Minister Anton Siluanov said that the ministry expects to reduce annual inflation in Russia, which has reached 8.05%.