“According to the forecast of the Bank of Russia, in the spring of 2023 it may drop below 4% for a short time due to the base effect, since the price jump in the spring of last year will no longer be taken into account in the calculation of the indicator,” the regulator said.
According to the Central Bank, consumer prices in Russia in December 2022 increased in monthly terms by 0.78%, annual inflation was 11.94%.
Earlier, the Federal State Statistics Service of Russia said that annual inflation in the country slowed to 11.94% in December.