(MENAFN) In Russia, inflation has been falling and fell to 13.5% last week, President Putin stated at an economic meeting on Thursday, referring to the year-on-year rate of the consumer price index.
Putin also addressed Europe's rising inflation rates, which have been on the increase in recent months.
“By the way, in the Eurozone it is 10%, in the Federal Republic [Germany] - 10.9%, in the Netherlands - 17.1%, in Latvia - 22.4%, in Lithuania - 22.5%, in Estonia - 24.2%, I think,” Putin stated as cited by RIA Novosti, in reference to official data for September. Prices are soaring, continent-wide, due to surging energy prices, among other factors.
In Russia, inflation began to rise in late February against the backdrop of Western sanctions, peaking at 17.83% in April. However, when the economy began to recover, commerce continued to flow, and the national currency, the ruble, rose to multi-year highs versus major currencies, inflation in Russia began to decelerate and was at 13.71% as of September 26, according to official figures.
The Central Bank stated last month that it expected inflation to remain between 11 and 13% by the end of the year.
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