Central bank says raises 2022 inflation forecast to 5–6%

MOSCOW, Feb 22 (PRIME) -- The central bank has increased its consumer price inflation index forecast to a wide range between 5 and 6% in 2022 on the back of geopolitical uncertainty from an earlier 4.0–4.5%, Deputy Chairman Alexei Zabotkin told the State Duma on Tuesday.

"Concerning our inflation forecast for this year, as you know… the new one envisages annual inflation at the end of this year at 5–6%. We expect that by the middle of 2023, inflation will return to 4% and will stay there," Zabotkin said.

"It is clear that there is high uncertainty – hence the wide range of the forecast."

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