OREANDA-NEWS  Inflation in the Russian Federation in 2024 will almost certainly exceed the October estimate of the Bank of Russia. This is reported by TASS with reference to the comment of the adviser to the head of the regulator Kirill Tremasov.

"Taking into account those data, while these are preliminary weekly data that we received for November, it is very likely that inflation will exceed the official forecast this year," the Central Bank announced.

Clarifying that it was his own opinion, Tremasov suggested that the level of price growth could rise above 9 percent this year. He also noted that there is no absolute certainty that the key rate will begin to decline in 2025, and for forecasts on its dynamics, it is necessary to monitor the deviation of the economy from the base forecast of the Central Bank.

At the beginning of the week, the deputy chairman of the Central Bank, Alexey Zabotkin, confirmed that price growth in the country is "near or above the upper limit" of the current forecast of the Central Bank of 8.0-8.5 percent. This was even before the publication of data from the Ministry of Economic Development, according to which the price increase from November 26 to December 2 accelerated significantly, amounting to 0.5 percent.