Annual inflation in Russia to total 6% or slightly lower by year-end — Novak

MOSCOW: The Russian authorities expect inflation in the country to total 6% or lower by the end of the year, Deputy Prime Minister Alexander...

MOSCOW: The Russian authorities expect inflation in the country to total 6% or lower by the end of the year, Deputy Prime Minister Alexander Novak said.

"Now, a week before the New Year, we've reached a year-on-year inflation rate of around 6%. By the end of the year, we expect it to be perhaps even less than 6%," he said in an interview with the Rossiya-24 TV channel.

This is lower than the Economic Development Ministry predicted, Novak noted. "This is a very good indicator, which allows us to hope that the slowdown we see in the economy in 2025 compared to last year will recover at a higher rate in the future, in line with the objectives set by the president: sustainable growth at a level no lower than the average global economic growth rate," he explained.

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