World meat industry news

The Bank of Russia is gradually reducing inflation. At the same time, in the process of restructuring the economy, price growth may remain elevated for some time. This was stated by the head of the Bank of Russia Elvira Nabiullina, writes The DairyNews with reference to the telegram channel of the Central Bank.

“In terms of inflation, we plan to reach the target of 4% in 2024,” she said. - Floating exchange rate has great advantages. We have seen in previous crises how it absorbs shocks and helps the economy adapt to changing external conditions. This is happening now.”

She also noted that the strengthening of the ruble, which occurred in the second quarter, makes it possible to restore the volumes of both consumer and investment imports, despite logistics costs and higher selling prices. That is, it works to reorient the economy to a new geography of international cooperation.

“Now we have inflation not much different from inflation in comparable economies, although we have dealt with much larger shocks. And the rate is 2 percentage points lower than it was at the beginning of February,” added Elvira Nabiullina.