ST. PETERSBURG, July 4. /TASS/. Annual inflation in Russia will peak in July, while its gradual decline is expected starting August or September, Deputy Governor of the Bank of Russia Alexey Zabotkin said.
"We will probably see the peak of annual inflation now, in July, particularly due to a serious increase in public utilities rates <…> We expect to see a gradual decline in annual inflation starting August-September," he said in an interview aired by the Rossiya-24 TV news channel.
The regulator expects the return to 4% inflation target in the middle of 2025, Zabotkin said.
"The level of 4% will probably be reached by the middle or closer to the second half of next year," he said.
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