The inflation rate in Russia is no longer “harmless,” said Elvira Nabiullina. In November, annual inflation exceeded 7%, its level has been growing month by month for six months, which significantly exceeds the Central Bank’s goal of 4% by the end of 2023.
The head of the Bank of Russia called the achieved annual inflation level of 7% “no longer harmless.” This was announced by Elvira Nabiullina at the plenary session of the State Duma, her words were quoted by the press service of the Central Bank.
The inflation rate in Russia has been growing month by month for six months. According to the Central Bank, during the week of November 8 to 13, inflation in annual terms increased to 7.16%, and in the period from August to October prices increased by 0.88%, which in annual terms is 11 ,1%.
At the end of October, the Central Bank raised the official interest rate to 15%. At the same time, the regulator raised its inflation forecast for 2023 to 7-7.5%, while the Bank of Russia’s target level is inflation of 4%.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
