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Authorities taking measures to avoid sharp spikes in inflation, Kremlin says

Dmitry Peskov admitted that inflation is "higher than one would like," "higher than planned," and this has its negative consequences

MOSCOW, December 2. /TASS/. Russian authorities are concerned about the current high level of inflation in the country and are taking measures to avoid sharp spikes, Kremlin spokesman Dmitry Peskov told reporters.

"There is no sharp spike in inflation. High inflation itself is a matter of concern, and the authorities are dealing with it. This issue is constantly on the agenda of the President and the government, it is constantly discussed at meetings on economic issues. The measures taken by the government still make it possible to avoid sharp spikes," he said.

Peskov admitted that inflation is "higher than one would like," "higher than planned," and this has its negative consequences.

"But the work is underway. At least, it is possible to somehow absorb it and prevent sharp spikes," the Kremlin spokesman said.

Earlier, the Economic Development and Trade Ministry reported that, between November 23 to 29 November, inflation in Russia accelerated to 8.38% in annual terms from 8.05% a week earlier. Economic Development Minister Maxim Reshetnikov noted his ministry sees the risks of exceeding the forecasted inflation rate of 7.4% at the end of the year.