Putin said that the impact of the VAT increase on prices in Russia will be short-term.

Russian President Vladimir Putin said on February 3 that the VAT increase would not have a long-term impact on inflation in the country.

He noted that inflation in Russia decreased from 9.5% in 2024 to 5.6% by the end of 2025, but in early 2026 it temporarily accelerated to 6.4% in annual terms.

"This is also expected, including due to the increase in VAT," Putin said.

The Head of State expressed confidence that by the end of 2026, inflation will decrease again to about 5%.

Profit, but: in seven years, only gold and deposits have generated income above inflation

What is the reason for this and what can you earn in 2026?

The Analytical Credit Rating Agency (ACRA) stated in its macroeconomic forecast for 2026-2028 dated February 2 that economic growth in Russia will recover to 1.5% by 2027. It is predicted that annual inflation will gradually decrease to a level close to the target within a year and a half, and the key rate of the Bank of Russia will drop to 9-10%.

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