MOSCOW, April 12. /TASS/. Annual inflation in Russia fell below 4% in March 2023, and is likely to fall even more in April, Governor of the Bank of Russia Elvira Nabiullina said on Wednesday.

"The key rate is currently set at 7.5%. We've been keeping it at this level for over a year. Annual inflation went below 4% in March and is expected to decline further in April. But these low annual figures mostly reflect very low monthly price growth rates last summer and fall. Now the price growth rates remain moderate, but they are still higher than they were in summer and fall," she said.

According to the Ministry of Economic Development, annual inflation in Russia from March 28 to April 3, 2023, slowed down to 3.29%.

According to the forecast of the Bank of Russia, inflation in the coountry by the end of the current year will be at the level of 5-7%.