MOSCOW, Jan. 11 (Xinhua) -- Russia's annual inflation rate was 11.9 percent by the end of 2022, Economic Development Minister Maxim Reshetnikov said Wednesday.
"At the end of the year, our inflation was below 12 percent, it was 11.9 percent to be exact," the Kremlin cited Reshetnikov as saying at a meeting with Russian President Vladimir Putin and government members.
He also noted that according to forecasts, annual inflation would significantly decrease by the end of the first quarter in 2023, and would drop below 4 percent in the second quarter. ■