MOSCOW, April 14. /TASS/. Inflation in Russia is expected to equal 5.3% in 2023, Economic Development Minister Maksim Reshetnikov said at a joint extended meeting of collegiums of the Finance Ministry and the Economic Development Ministry on Friday.

"Inflation will continue declining, reaching 5.3% by the end of this year," he said.

Inflation is also projected at 4% for end-2024, 2025 and 2026, according to key parameters of scenario conditions for 2024-2026 prepared by the ministry.

Earlier, Reshetnikov said at a meeting with government members headed by Russian President Vladimir Putin that inflation in the country amounted to 11.9% in 2022, below the projected level.