Inflation In Russia Projected At 6% In March - Medvedev

Inflation in Russia is expected to reach about 6% in March and nearly 4% some time later, Russia's Security Council Deputy Chairman Dmitry Medvedev said in an interview with leading Russian media, including Sputnik, on Friday

MOSCOW (UrduPoint News / Sputnik - 24th March, 2023) Inflation in Russia is expected to reach about 6% in March and nearly 4% some time later, Russia's Security Council Deputy Chairman Dmitry Medvedev said in an interview with leading Russian media, including Sputnik, on Friday.

"By March, Russia will have an inflation of around 6%, and approximately 4% after a while. In most of Europe's countries it is higher, now some countries have 15-20% inflation. It is the art of management," Medvedev said.

Inflation in EU countries has grown considerably over the past year since economic restrictions were imposed on Russia after the start of its special military operation in Ukraine.

The economies of Estonia, Latvia, Lithuania and Slovakia have been hit the hardest with inflation in those countries rising to a 15-20% level, as reported by Eurostat on March 2.

Russian officials have repeatedly said that the Russian economy is more resilient in the face of the present economic circumstances. On March 16, President Vladimir Putin said that inflation was expected to be about 4% by the end of March. The following day, the Russian Central Bank said that the inflation forecast for 2023 was at 5-7%, and at 4% for 2024.