The Central Bank of the Russian Federation predicted a decline in inflation after April 2025

Annual inflation in Russia will reach its peak in April 2025, after which it will begin to actively decline. This was stated by the head of the monetary policy department of the Bank of Russia Andrei Gangan in an interview with Interfax on December 24.

"Due to the base effect, i.e. relatively low rates of price growth at the beginning of last year, it is very likely that during the first quarter of 2025 we will see an increase in the annual inflation rate. At the same time, the current rate of price growth will slow down. The annual inflation rate is likely to peak in April, after which in year-on-year terms, inflation will start to decline aggressively," Gangan said.

He added that disinflation will be evident during the first half of 2025. It will rise as the effects of tighter monetary conditions become more apparent.

In October, the Central Bank gave a forecast that inflation next year will be in the range of 4.5-5%.

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Earlier, on December 20, it became known that the Central Bank predicted a decline in annual inflation to 4% in 2026. It was specified that in October-November price growth amounted to 11.1%. According to the Central Bank estimates, at the time of December 16, annual inflation increased to 9.5%.

December 4, Russian President Vladimir Putin at a meeting of the VTB forum "Russia Calling!" 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.