"In the week of October 10-16, 2023, consumer price growth slowed to 0.15% after rising by 0.24% in the week of October 3-9, 2023. Year-on-year, inflation was 6.38% year-on-year after 6.26% year-on-year," the ministry said in a report.

Earlier, First Deputy Chairman of the Central Bank Vladimir Chistyukhin said that the Bank of Russia will make every effort to reduce the key rate as inflation slows down and inflation expectations decline.

At the same time, according to RBC, banks have increased borrowing from the Central Bank of Russia in anticipation of an increase in the key rate.