OREANDA-NEWS  Inflation in Russia by the end of 2022 was even lower than 12% - amounted to 11.9%, the head of the Ministry of Economic Development Maxim Reshetnikov reported at a meeting of President Vladimir Putin with members of the government.

"Operational information has already been received - by the end of the year, we have inflation below 12%, to be more precise with rounding – 11.9%. And this is despite the fact that we postponed the indexation of utility tariffs from July 1, 2023 to December 1, 2022," the minister said.

The Ministry of Economic Development in its forecast expected inflation in Russia in 2022 at the level of 12.4%. At the same time, the head of the ministry did not rule out that inflation by the end of 2022 may be better than forecast - in the range of 12-12.4%.

At the end of December 2022, Russian Finance Minister Anton Siluanov stated that inflation in Russia would be about 12% by the end of the year.