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Post: Central Bank expects inflation to return to 4% in 2024


The building of the Central Bank of the Russian Federation in Moscow. Archive photo

Central Bank vice-president Chistyukhin expects inflation to return to four percent by 2024

CHEBOKSARY, June 23 – RIA Novosti. Vladimir Chistyukhin, the first vice-president of the regulatory agency, said the Bank of Russia expects annual inflation in the country to return to 4% in 2024.

We’re not strictly saying we should go back to the 4% target this year, even next year we’ve set a 5-7% range. But we plan for inflation to return to 4% by 2024,” he said at the roundtable of the Duma Committee on the financial market, which took place as part of the Cheboksary Economic Forum.

The Ministry of Economic Development reported on Wednesday that annual inflation in Russia slowed to 16.42 percent on June 17 from 16.69 percent a week ago. According to the official forecast of the Central Bank, inflation will be 14-17 percent at the end of the current year, 5-7 percent in 2023 and 4 percent in 2024.

Source: Ria

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