Novak predicted an inflation rate of 6% by the end of 2025

By the end of 2025, inflation in Russia may reach about 6% or less of this indicator. This was announced on December 25 by Russian Deputy Prime Minister Alexander Novak.

"Now, a week before the New Year, we have reached the annual inflation rate of about 6%. By the end of the year, we expect it to be even less than 6%," he said on the Rossiya 24 TV channel.

Novak stressed that this result was better than predicted by the Ministry of Economic Development of the Russian Federation, which is a good indicator for the economy. He noted that such an indicator allows us to hope for a recovery in growth rates in the future.

Breaking the trend: Inflation has finally started to slow down steadily

It is difficult to predict the Central Bank's decision on the rate so far

The day before, Russian President Vladimir Putin announced a decrease in inflation in Russia. According to him, despite the current challenges, the country continues to move forward and develop. He also said that key macroeconomic indicators remain stable. The Head of State also noted that the Russian economy needs to be brought to a qualitatively new level.

On December 19, the Chairman of the Central Bank of Russia, Elvira Nabiullina, announced that a significant part of the way to achieve the 4% inflation target had been completed. According to her, consistently low inflation is "not a departmental task," but a guarantee of balanced economic development.

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