Presidential aide: Inflation in Russia not to exceed 15% in 2022

Assistant to the Russian President for Economic Advisor, Maxim Oreshkin, said that inflation in Russia will not exceed 15 per cent in 2022.

Oreshkin noted the country will enter a sustainable deflationary trend in the coming weeks, according to Kommersant.

He also said that the Russian economy will fall much less than previously predicted, GDP will lose less than 5 per cent.

“In general, there were a lot of negative forecasts for inflation – 20 per cent, 25 per cent inflation. Now we can confidently say that by the end of 2022, inflation in our country will not exceed 15 per cent,” Oreshkin noted, speaking at the “New Horizons” forum.

The presidential assistant for economic affairs explained that from now until the end of 2022, “the inflation rate will not exceed the Central Bank’s target of 4 per cent.”

He also noted that the situation with prices has stabilised, prices for many goods are already declining. “Those who, for example, bought electronics in March, I think, now already regret those decisions, because the same goods can often already be bought at lower prices,” he added.