MOSCOW, Apr 22 (PRIME) -- Russia’s inflation will decline consistently in 2023 to create the grounds for it to return to 4% in the medium term, analysts of the central bank’s research and forecasting department said in a research note late on Thursday.
“After prices jumped in March, the current dynamics of price growth are fizzling out, even though it is still high as compared with the target. Annual inflation will continue rising due to the base effect, but slower than in March. A consistent slowdown would happen in 2023, which creates the basis for inflation to return to the target of 4% in the medium term taking into account the monetary policy,” the analysts said.
The central bank said that the opinions of the department’s analysts may contradict the official position of the regulator.
The Federal State Statistics Service said earlier that Russia’s inflation sped up to 16.69% from 9.15% in annual terms and to 7.61% from 1.17% in monthly terms in March.
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