OREANDA-NEWS  Inflation in Russia is gradually decreasing and has now reached a level of less than four percent per annum — that is, it has fallen below the target of the Central Bank. This figure was called by the Prime Minister of Russia Mikhail Mishustin.

"As for inflation, it was at 20 percent at its peak, the annual rate is 11.9 percent if we take 2022. And today we already have less than 4 percent," the prime minister reminded.

Mishustin also noted that Russia is the "world champion" in terms of the number of sanctions imposed against it, but even in such conditions, the government continues to work to achieve "growth [of the economy], which has been going on for several months."

Earlier, the Central Bank warned that by the end of the first quarter of 2023, inflation could fall to 3.6 percent. As stated by the head of the regulator Elvira Nabiullina, a decrease in the indicator is expected due to the effect of a high base. "In the spring months, it is very likely to drop from today's 11.8 even below 4 percent," she said at the end of February. By the end of the year, inflation is expected in the range of 5-7 percent.