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Inflation in Russia to be around 12% by end of 2022 — Finance Minister

Earlier, the Economic Development Ministry in its review of the current price situation reported that annual inflation in Russia in the week from December 20 to 26, 2022 slowed to 12.19% against 12.35% a week earlier

Russian Finance Minister Anton Siluanov Stanislav Krasilnikov/TASS

Russian Finance Minister Anton Siluanov

© Stanislav Krasilnikov/TASS

MOSCOW, December 29. /TASS/. Inflation in Russia will be about 12% at the end of this year, Finance Minister Anton Siluanov announced on the air of the Rossiya-24 TV channel on Thursday.

"I think we did a good job. The main thing is that we managed to maintain financial and macroeconomic stability. We coped with inflation. This year inflation will be about 12%, although expectations were initially much higher, of course," he said.

Earlier, the Economic Development Ministry in its review of the current price situation reported that annual inflation in Russia in the week from December 20 to 26, 2022 slowed to 12.19% against 12.35% a week earlier.

Earlier, at a meeting of the Supreme Eurasian Economic Council, President Vladimir Putin said that inflation in Russia this year is expected to reach 12.2%. The Economic Development Ministry expects inflation to be around 12% by the end of this year and next year it will decrease to 5.5%.

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