Putin Discusses Inflation in Russia

The annual inflation rate in the Russian Federation slightly exceeds 14%, but a downward trend is observed, stated Russian President Vladimir Putin during his speech at the plenary session of the Eastern Economic Forum.

“It is around 14 percent for us and a bit, but the trend, unlike in Western economies, is going down,” he said.

According to Putin, inflation in Russia is expected to reach target levels by the second quarter of next year.

“Inflation in the United States was 8.5 percent, and now we have it around 14 percent—a bit, but the trend is decreasing, unlike Western economies. I believe that by the end of the year we will be somewhere around 12 percent, and according to many of our experts, in the first quarter, by the second quarter of next year, we will most likely reach the target indicators—some say 5-6%, while others believe that the 4% level will also be achievable,” said Putin during his speech at the plenary session of the Eastern Economic Forum.