Russia's VTB CEO projects double-digit inflation by end of 2022

Russia's VTB CEO projects double-digit inflation by end of 2022

Chief Executive Officer of Russia’s second-biggest bank VTB Andrey Kostin projects double-digit inflation in the country by the end of 2022.

"There will be double-digit inflation, for sure, we projected that," he said in an interview with the RBC TV channel.

Kostin also noted the importance of the government’s policies on curbing prices for food, metals, construction materials.

Earlier, Russia’s Economic Development Ministry said inflation in the country accelerated to 14.53% in annual terms from March 12 to 18 compared to 12.54% in the previous week.

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