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Russia’s economy is in phase of declining inflation — Novak

Russian Deputy Prime Minister said the national economy showed its resilience and ability to move forward

Russia's Deputy Prime Minister Alexander Novak Alexander Shcherbak/TASS

Russia's Deputy Prime Minister Alexander Novak

© Alexander Shcherbak/TASS

MOSCOW, December 5. /TASS/. The Russian economy is now in a phase of easing inflationary pressure, Russian Deputy Prime Minister Alexander Novak said.

"Our economy – despite all challenges, despite all the pressure from Western countries, and the difficulties we face – has shown record numbers in recent years and, most importantly, has shown its resilience and ability to move forward," the deputy prime minister said.

"Today, our economy is in a stage of forming balanced, sustainable growth and declining inflation," he added.

Rosstat reported earlier that inflation in Russia amounted to 0.14% over the period from November 18 to 24. Inflation amounted to 0.11% from November 11 to November 17. Consumer prices in Russia gained 0.4% since early November and 5.23% from the year start. In annual terms, inflation in Russia was 6.96% as of November 13, 2025.

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Alexander Novak

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