MOSCOW, September 13. /TASS/. The Russian Economic Development Ministry has raised its inflation forecast for 2023 from 5.3% to 7.5%, the authority said in its social and economic development forecast for 2024 and the planning period of 2025-2026, obtained by TASS.

According to the report, inflation in Russia is expected at 7.5% in 2023 and at 4.5% in 2024. By 2025-2026, inflation will stabilize at 4%, the document says.

"We raised this year’s inflation forecast. We believe that rate fluctuations, which reached over 40% since the start of the year, will have a certain effect. In this or that form, it will be reflected in prices. But we expect the situation to stabilize, so the next year’s inflation figure will be 4.5%," a ministry spokesperson has told reporters.