Putin: inflation in Russia is under control

Russian President Vladimir Putin held a meeting on economic issues. According to him, the economic dynamics in the country meet the expectations of the authorities. Inflation is under control and is gradually decreasing, the head of state said.

The efforts of the Bank of Russia and the government to slow inflation are yielding results, Putin said. As of September 14, annual inflation was 6.2%, he said. GDP growth at the end of the year will be within 1%, the President added. “Approximately such a forecast was laid in the preparation of budget plans for the current year,” he said (quoted by the Kremlin website).

Unemployment in Russia is near a historical low and is 2.3%, the President said. “The stable situation in the labor market and the growth of incomes of the population affect consumer demand,” he said. Retail sales in the first seven months of the year rose 5.4 percent. Russian business is working steadily, says Vladimir Putin.