MOSCOW, September 25. /TASS/. Inflation in Russia will remain at rather high levels throughout 2024, Economic Development Minister Maksim Reshetnikov said addressing the Federation Council.

"Inflation in December year-on-year is 7.5%, while next year’s average annual inflation is 7.2%. In 2024, December [inflation] year-on-year is 4.5%. We expect it to decline, though it will remain at notable levels throughout next year," he said.

Earlier, the Economic Development Ministry raised its inflation outlook for 2023 from 5.3% to 7.5%.