Russia's inflation rate falls below 4%

Russia's national statistics agency (Rosstat) said on April 12 that the country's inflation fell below 4% in March 2023 for the first time since the West imposed unprecedented sanctions against Russia over the conflict in Ukraine.

Accordingly, Russia 's inflation in March was 3.51% year-on-year, down sharply from 10.99% in February, but this decrease does not reflect a real decline in prices in Russia after inflation spiked in March 2022 following Western sanctions.

Inflation in Russia in March 2022 was significantly higher than in February 2022, so the year-on-year comparison shows a sharp decline. In April 2022, the country's inflation rate rose to a two-decade high of 17.8%.

In mid-February, the head of Russia's Central Bank, Elvira Nabiulina, said that the country's inflation rate would be "between 5 and 7 percent" by the end of this year.

VNA

Source: https://www.qdnd.vn/quoc-te/tin-tuc/ty-le-lam-phat-cua-nga-giam-xuong-duoi-muc-4-724866