OREANDA-NEWS This year, it is important for Russia to reach a balanced growth trajectory and achieve a reduction in inflation, the size of which is a challenge for the country, Russian President Vladimir Putin said.

"We have an annual inflation rate of 9.5%, and on February 3 it was already 9.9% year-on-year, and this is a challenge for us, we must do everything necessary to ensure balanced growth," he said at a meeting with Russian Prime Minister Mikhail Mishustin.

Inflation in Russia for the period from January 28 to February 3 slowed to 0.16% from 0.22% a week earlier, and prices have increased by 1.3% since the beginning of the year, Rosstat reported. According to the Ministry of Economic Development, inflation in Russia on February 3 was 9.92% in annual terms after 9.95% on January 27.

Inflation in Russia last year was 9.52%, exceeding the official forecasts of the authorities. In 2023, it reached 7.4%.