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Russian Central Bank Lowers Inflation Forecast For 2022 to 11-13% From 12-15%

© Sputnik / Mikhail Voskresensky / Go to the mediabankCentral Bank of Russia.
Central Bank of Russia. - Sputnik International, 1920, 16.09.2022
MOSCOW (Sputnik) - The Bank of Russia lowered the forecast for inflation in the country for 2022 to 11-13% from 12-15%, follows from the release of the regulator.
"Annual inflation will total 11.0-13.0% in 2022 and, given the monetary policy stance, drop to 5.0–7.0% in 2023, returning to 4% in 2024," the central bank said in a statement.
The decline in Russia's GDP in 2022 may be closer to 4%, the dynamics of business activity is better than July expectations, the Bank of Russia said.
In July, the central bank of improved its forecast for a decline in Russia's GDP in 2022 to 4-6% from 8-10%.
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