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Inflation by year-end should fall to 6-7%, below forecasts — Putin

The Russian president said that inflation by the end of July slowed to 8.8%, compared to 10.3% in March

MOSCOW, August 12. /TASS/. Inflation by the end of July slowed to 8.8%, compared to 10.3% in March, by the end of the year, price dynamics may reach 6-7%, below forecasts, Russian President Vladimir Putin said at a meeting on economic issues.

"The reduction of inflation is an important achievement. If by the end of March it was 10.3% in annual terms, then by the end of June it was already 9.4%, and by the end of July it was already 8.8%," Putin said.

"By the end of the year, consumer price dynamics may already be within 6-7%, that is, below previous forecasts," he added.

The Russian leader recalled that in 2025, the government and the Central Bank were faced with the task of entering a trend of balanced economic development.

"This implies a reduction in inflation while, of course, maintaining unemployment at a consistently low level," the President explained.

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