Russian President calls inflation reduction major achievement

Annual inflation in Russia continues to slow, which is a major achievement, Russian President Vladimir Putin said during a meeting on economic issues.

By the end of the year, consumer price dynamics may already be within 6-7%, that is lower than previous forecasts.

"The reduction of inflation is an important achievement. If by the end of March it was 10.3% in annual terms, then by the end of June it was already 9.4%, and by the end of July it was already 8.8%," Putin said.

The Russian leader recalled that in 2025, the government and the Central Bank were faced with the task of entering a trend of balanced economic development.

According to Vladimir Putin, this implies a reduction in inflation while, of course, maintaining unemployment at a consistently low level.

Russia has seen growth in hidden and official unemployment, but it remains at an all-time low, the head of state noted.