Putin: Russia’s inflation not significant, but overshoots target

MOSCOW, Jul 27 (PRIME) – Russia’s economic recovery is accompanied by higher inflation, which is not significant but still overshoots the targets, that is why the government should be cautious and coordinated when solving the problem, President Vladimir Putin said on Tuesday at a government meeting.

“Just like in foreign countries, rapid recovery of the key sectors of the national economy and the labor market in our country … is coupled with an increase of inflation, which is not as significant as it could have been, but still overshoots our target guidelines,” he said, adding that both internal and external factors are at play here.

“The government and the central bank are already reacting at the level of macroeconomic actions and sectorial regulations. It is important that all the steps are coordinated, thought-out, and balanced, I want to stress that. I am sure that we will act this way.”

The global economic recovery is connected to inflationary risks, he reiterated.

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