ST. PETERSBURG, June 20. /TASS/. The situation with inflation in Russia is developing better than many experts and even the Central Bank projected, which has already allowed starting "a cautious easing" of the monetary policy, President Vladimir Putin said.

"Inflation dynamics is developing better than many experts expected, even the Bank of Russia projected. This has already allowed starting a cautious easing of the monetary policy," he said at a plenary session of the St. Petersburg International Economic Forum (SPIEF).

Annual inflation amounted to 9.6% as of June 16, Putin noted, adding that "this is still rather high, of course, though inflation targeting continues."

Russia’s GDP added 1.5% in annual terms in the first four months of 2025 while in April growth accelerated to 1.9%, he said.

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." The Roscongress Foundation is the organizer of the Forum. TASS is its information partner.