“Nevertheless, it is necessary to take effective measures to reduce inflation in our country,” RIA Novosti quotes Putin.

According to him, both the government and the Central Bank play a significant role in this issue, "which maintains a responsible approach to the implementation of monetary policy."

Earlier, the Bank of Russia raised its inflation forecast for 2022 to 5-6%.

In addition, the Central Bank raised the key rate to 9.5% per annum.