ALEXEY VEDEV NAMED THE CAUSE FOR REDUCING INFLATION IN APRIL 2023

The “Izvestia” published the opinion of Alexey Vedev, Head of the Financial Studies Department at the Gaidar Institute, on the causes for reducing inflation in April 2023.

The Ministry of Economic Development in its review of the current economic situation recorded a decline in inflation in Russia from April 11 to April 17 to 2.82% in annual terms. A week earlier the indicator was 3.15%. The report notes that inflation reduced mainly due to price growth by 0.06% in the service sector. Tickets for flights within Russia, as well as household services became cheaper.

The current decline in inflation is due to the ruble stabilization and low demand, believes Alexey Vedev. “Additionally, I would like to note that the weekly inflation rate is calculated for a much narrower range of goods and services than the monthly one. Therefore, the inflation rate may be adjusted based on the results of April,” the expert noted.