MOSCOW, June 15. /TASS/. Inflation in Russia is expected to be at the level of 15% or lower as of 2022 year-end, First Deputy Prime Minister Andrey Belousov said in an interview with TASS.

"Inflation in 2022 will most likely be about 15% December-to-December, probably a bit lower. We see deflation now, while the inflation spike was in March-April. It totaled 20% and for certain positions - 30%; that is why there will be such annual figures," Belousov said.

Deflation in Russia highlights low demand and this problem should be tackled "in the here and now," the official said. "Deflation is known to be observed for as long as several weeks and this is the sign of demand shortage. Low demand is one of main problems to be solved, so to say, in the here and now. We believe it may well be possible to achieve the target set about 4% as regards the inflation level in 2024," he added.