Minister: Russia’s inflation amounts to 11.9% in 2022

MOSCOW, Jan 11 (PRIME) – Russia’s consumer price inflation index amounted to 11.9% in 2022, Economic Development Minister Maxim Reshetnikov said on Wednesday during a government meeting chaired by President Vladimir Putin.

“According to the latest data that we have received, our inflation was below 12% last year, it amounted to 11.9% to be more precise. And it reached this level although we moved indexation of tariffs for the public utility services to December 1, 2022 from July 1, 2023,” he said.

Inflation will continue falling, and should fall below the 4% target in April–June as the peak prices of May 2022 would be eliminated from the base of calculation, he said.

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