Annual inflation in Russia rises to 2.87% on June 6-13 — ministry

Business & Economy June 15, 2023, 21:57

According to the latest forecast of Russia's socio-economic development, the country's GDP growth is expected to reach 1.2% in 2023 and 2% in 2024

MOSCOW, June 15. /TASS/. Annual inflation in Russia rose to 2.87% on June 6 - June 13 from 2.68% a week earlier, the Ministry of Economic Development said in a statement on Thursday.

"Price growth slowed down in the week from June 6 to June 13. Inflation reached 2.87% year-on-year. The main contributor to the slowdown in inflation during the reporting week was a decline in price growth in the non-food sector," the statement said.

According to the latest forecast of Russia's socio-economic development, the country's GDP growth is expected to reach 1.2% in 2023 and 2% in 2024. Inflation in Russia is expected to be 5.3% this year, and real wages of the population are also expected to grow by 5.4%.

According to the Bank of Russia, the annual inflation rate in Russia in May 2023 rose to 2.51% from 2.31% a month earlier.

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