MOSCOW, December 15. /TASS/. The Bank of Russia forecasts inflation to slow down next year, Central Bank chief Elvira Nabiullina said at a press conference after the regulator’s Board meeting.

"Inflation will decelerate next year, including under influence of monetary policy decisions already made," she said.

"Considering the recent level of the price pressure, we may need a long period of high rates to achieve the target next year," Nabiullina added.

According to the base case forecast of the Bank of Russia, inflation in the country will be at the level of 7-7.5% in 2023. The regulator expects is closer to the upper limit of the range. Annual inflation is predicted to decline to 4-4.5%, considering the pursued monetary policy.