Russian President Vladimir Putin said on Tuesday that inflation in the country is declining and could fall to 5% in early 2023.
"I want to emphasize this, according to all experts and the government, the downward trend in inflation is stable. And experts believe that somewhere in the first quarter of next year it should approach somewhere around 5%, and maybe even a little less," Putin stated. In September, Russian inflation stood at 13.7%, declining from more than 17% recorded in April.
Meanwhile, the Bank of Russia updated its global growth forecast, noting it expects a "more significant slowdown" in the global economy than previously anticipated.
