MOSCOW, December 5. /TASS/. Annual inflation in Russia will grow for several months more but its current growth rate is not increasing anymore, the Central Bank said.

"Current price growth rates have stopped increasing by now but no significant decline has occurred with them so far. Growth of stable price components of goods and services making up the consumer basket is significantly above 4% in annual terms and is more likely to move up than to slow down. Annual inflation will increase for several months more as relatively low price growth rates in late 2022 - early 2023 are leaving the calculation base," the regulator said.

The return of inflation to the target in level in 2024 can require tough monetary policy during a long period of time, the Central Bank added.