In Russia, the annual inflation rate decreased from 7.12% to 6.92% between November 18th and 24th. This data was presented in a review of the current price situation published by the Ministry of Economic Development of the Russian Federation. According to the Ministry, prices in Russia rose by 0.4% since the beginning of November. Additionally, the inflation rate for the week was reported at 0.14%, reaching 5.25% since January 1st.
The Ministry highlighted that in the food sector, prices increased by 0.16%, while the growth rate of non-food products stood at 0.08%. Furthermore, prices for observed services rose by 0.16%. On November 24th, the Deputy Chairperson of the Central Bank of Russia, Alexey Zabotkin, stated that the regulator aims to achieve a 4% inflation rate by 2026. He emphasized that this would allow for a reduction in the key rate to levels ‘much more acceptable compared to the experience of the last two years.’
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