Russia's inflation stabilizing, says economy minister

Russia's inflation stabilizing, says economy minister Maxim Reshetnikov noted that a certain level of uncertainty persisted in the economy, driven in part by developments in the fuel market and recent terrorist attacksMOSCOW, August 14. /TASS/. Inflation in Russia has stabilized. Economic Development Minister Maxim Reshetnikov said in an interview with the Vesti news program. "The Bank of Russia is carefully but consistently lowering the key rate, and, of course, everyone recognizes the trend and sees inflation stabilizing," Reshetnikov said. The minister noted that a certain level of uncertainty persists in the economy, driven in part by developments in the fuel market and recent terrorist attacks. "At the same time, we see that our businesses and the broader economy are responding adequately, with companies promptly carrying out all necessary recovery work," he added. As of August 10, 2026, year-on-year inflation in Russia stood at 6.06% (based on calculations using average daily data for this year and the previous year for corresponding dates), the Federal Statistics Service (Rosstat) reported earlier. On July 24, 2026, the Bank of Russia decided to lower its key rate from 14.25% to 14% per annum, contrary to analysts’ forecasts that it would remain unchanged. That said, the Central Bank pointed to the need for a more gradual rate reduction, according to the regulator’s press release. 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