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4% price growth trend to be fixed — Bank of Russia

The regulator takes note of such indicators after receiving the whole picture for May and June of this year in annual terms, Elvira Nabiullina noted

MOSCOW, July 25. /TASS/. The recent price growth rates have already approached the 4% target but this trend requires to be anchored, Central Bank chief Elvira Nabiullina said at the press conference after the regulator’s Board meeting.

"Although the current price growth rates have already approached 4%, this trend requires to be fixed," she said.

The regulator takes note of such indicators after receiving the whole picture for May and June of this year in annual terms, she noted. "The majority of stable inflation indicators dropped to 4-6%; this occurred quicker than we forecast. Annual inflation slowed down to 9.2%, and we reduced the forecast to 6-7% as of the end of this year, considering the current evolution of prices," Nabiullina added.