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Bank of Russia expects inflation at 8.5% or higher by end of 2024

Inflation in Russia reached 0.36% on November 19-25

MOSCOW, December 3. /TASS/. The Central Bank expects inflation in Russia at the upper bound or above the 8-8.5% forecast range by the end of 2024, the regulator’s Deputy Governor Alexey Zabotkin told reporters.

"The current trajectory is close to or above the upper bound," he said when asked a respective question.

According to the Central Bank’s latest forecast, annual inflation in Russia is expected at the range of 8-8.5% this year.

Inflation in Russia reached 0.36% on November 19-25, according to data provided by the Russian State Statistics Service (Rosstat). In annual terms, inflation in Russia as of November 25, 2024 amounted to 8.64%, the service said.

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