SOCHI, October 1. /TASS/. Authorities record the decline of inflation growth rates and prices gained about 8% annually in September, Deputy Prime Minister Alexander Novak told reporters on the sidelines of the annual meeting of the Valdai international discussion club.

"We see now that the pace of inflation goes down. The policy pursued by the Central Bank and the government is aimed at lowering inflation processes, taking disinflationary measures, and it bears fruit. The inflation level is about 8% year on year as of the end of September," Novak said. Inflation will decline to 6-7% by the end of the year, the deputy prime minister added.

According to statistics, consumer prices in Russia gained 4.16% from the year start. In annual terms, inflation totaled 8.14% as of September 22 of this year.