The Ministry of Economy raised the forecast for inflation in 2022 to 5.9%

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The Ministry of Economy raised the forecast for inflation in 2022 to 5.9%
The Ministry of Economy raised the forecast for inflation in 2022 to 5.9%
8 February, 09:14EconomyPhoto: 1MI
The Ministry of Economic Development raised the inflation forecast for the current year from 4.0% to 5.9%. The indicator was revised as part of the instruction of President Vladimir Putin to clarify the parameters of the socio-economic development forecast.

According to Vedomosti, citing its source, the forecast parameters are flexible and depend on the market situation.

The government is discussing how much additional funds may be available in addition to the envisaged amounts in 2022.

At the end of the year, the publication points out, excess revenues are expected and it is necessary to assess what resources the authorities have to finance the measures of the future message of the president to the Federal Assembly. It is noted that there may be expenses not provided for in the law on the budget. We can talk about the indexation of government contracts due to rising prices for building materials.

The main parameters will be provided in April, and the dynamics of inflation will depend primarily on rising prices in the world. They can be influenced by the monetary policy of the leading countries and the speed of recovery of supply chains and the situation with the harvest.

In early February, it became known about the continuing rise in inflation in Russia. Moreover, the indicators reached six-year records. Moreover, analysts pay attention to the absence of signs of a slowdown in inflation, which officials have repeatedly spoken about earlier. Food prices rose 1.07% in January, doubling from a year earlier.

Georgy Vashchenko, Head of Trading Operations on the Russian Stock Market at Freedom Finance, believes that due to the acceleration of inflation, the likelihood of raising the key rates of the Central Bank increases.

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