Novak reported a slowdown in annual inflation in Russia at the end of September to 8%

Annual inflation in Russia slowed to about 8% at the end of September, and will be 6-7% by the end of 2025. This was announced to journalists on October 1 by Deputy Prime Minister Alexander Novak following a meeting of the Valdai International discussion Club.

"We observe that the inflation rate is decreasing. According to the results of September, annual inflation is about 8% <...> By the end of the year, we expect 6-7%, and by the end of 2026 — 4%," Interfax quoted him as saying.

In addition, he noted that an increase in consumer demand is expected in Russia in the near future.

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Earlier, on September 24, the chairman of the Central Bank of Russia, Elvira Nabiullina, noted that for the first time Russia is going through a full-fledged economic cycle, the economy is coming out of overheating, and therefore there are no spikes in inflation and unemployment. According to the chairman of the Central Bank, now the process of overcoming overheating is not abrupt, but gradual.

Later, on September 25, Nabiullina called the challenge for the Central Bank to bring inflation under control. Nabiullina stressed that when the economy is transforming, it is extremely important to properly assess risks and at the same time continue to finance economic growth.

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