MOSCOW, May 17. /TASS/. The Bank of Russia forecasted the beginning of an increase in annual inflation in Russia starting from May, the regulator said on Wednesday.

"According to the Bank of Russia's prediction, the annual inflation rate will begin to rise in May as the low values of monthly growth in the summer months of 2022 are removed from the calculation of annual inflation," the statement said.

According to the calculations of the Bank of Russia, annual inflation in Russia in April was 2.31%, with monthly price growth of 0.38%. For three months (February - April 2023), the average price rise was 0.29%, which is close to 4% in yearly terms.

Annual inflation in Russia will reach 4.5-6.5% in 2023, returning to 4% in 2024 and remaining close to 4% in the future, according to the regulator’s base scenario, taking into account current monetary policy.