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The Ministry of Economic Development has raised the inflation forecast for the current year
The Ministry of Economic Development has raised the forecast for inflation in Russia from 5,8% to 7,4%. This was facilitated by the growth in fruit and vegetable products. However, the macro forecast until 2024 has remained unchanged.
As the Finmarket, said the Minister of Economic Development Maxim Reshetnikov. According to him, the annual inflation in the Russian Federation is now about 7,5% and its significant decrease by the end of the year will not occur.
The rise in prices for fruits and vegetables, which influenced the inflation rate, is due to the lag in harvesting due to weather and a shortage of labor in a number of regions. The second factor of influence was the acceleration in the growth of prices for meat products - chicken and pork - due to the increase in the cost price.
“At the same time, the monetary components of inflation - non-food products, services - are gradually stabilizing. This is influenced by the increase in the key rate by the Bank of Russia and the gradual strengthening of the ruble. In 2022, at the end of the year, we forecast inflation of 4% - a return to the target level, ”Reshetnikov said.
As the Kommersant, the Kremlin linked the increase in the inflation forecast to post-crisis volatility and global trends.
“Russia cannot live in a closed circuit, Russia is a participant in international economic life. And tendencies in general on international markets, some kind of post-crisis volatility and so on, are just the oppression for prices, "- said the press secretary of the President of the Russian Federation Dmitry Peskov.