“After a peak of 17.8%, as you know, now inflation is 16.7% and continues to decline.

Economic dynamics is stabilizing.

Public finances are sustainable,” the head of state said, speaking at SPIEF.

He stressed that "this is too much."

“16.7% is a lot of inflation.

We have to work with it and we will do it.

I am sure we will achieve a positive result,” Putin said.

As the Minister of Economic Development of Russia Maxim Reshetnikov said earlier, inflation in the country this year will be double-digit, but significantly lower than the previously announced 17.5%.