The Ministry of Economic Development estimated annual inflation in Russia at 9.07%

Annual inflation in Russia from November 26 to December 2 accelerated to 9.07% from 8.78% a week earlier. This was reported on December 4 by the Ministry of Economic Development in a summary of the current price situation published on the agency's website.

"For the week from November 26 to December 2, 2024, consumer inflation amounted to 0.5%," - said in the review on the current price situation.

Thus, according to the Ministry of Economic Development, among food products in the reporting week, the rate of price growth amounted to 0.68%: for fruit and vegetable products the rate of price growth decreased to 3.57%, for other food products the change in the price level amounted to 0.43%. Price growth rates amounted to 0.30% in the segment of non-food products: the dynamics of prices for diesel fuel decreased, construction materials became cheaper.

As for services, the decrease in prices is preserved for hotel and health resort services.

There will be no stagflation: when the Central Bank will stop price growth

Economists discussed the prospects for fighting inflation and lowering the interest rate

On the same day, Russian President Vladimir Putin said that the inflation rate will sooner or later reach the target of 4%. At the same time, the main tool to fight inflation is to ensure sufficient output of goods, the president concluded.

On the eve, December 3, five out of eight experts and market participants surveyed expressed the opinion that inflation will rise to 9% per annum by the end of 2024. Two analysts are confident that the growth will be about 8.5-9%, another expressed more pessimistic - 9-10%.

Before that, on November 28, it became known that the Central Bank (CB) of Russia at a meeting of the Board of Directors, which will be held on December 20, will consider another increase in the key rate.

Earlier, on October 25, the Central Bank raised the key rate to 21%. At the same time, the regulator allowed a further increase in the rate, noting that pro-inflationary effects cause additional budget expenditures and expansion of the federal budget deficit.