MOSCOW, January 22. /TASS/. Annual inflation in Russia amounted to 7.42% in 2023, the Central Bank said.

"In December 2023, consumer prices hiked by 0.73% (by 1.11% in November). This is explained by the drop in the stable component of price growth and by the slowdown in appreciation for goods and services with volatile prices. Consumer prices were growing with the rate of 8.7% on average in the fourth quarter. This is lower than in the prior quarter and in late 2021 - early 2022. Annual inflation decelerated and totaled 7.42%," the Central Bank informed.

Nevertheless, the price growth rate remains high for a wide range of goods and services for the sixth month in succession, the regulator noted. According to the forecast of the Bank of Russia, the stringent monetary policy will limit excessive expansion of internal demand and its pro-inflationary consequences.