Putin's Call to Action on Inflation

MOSCOW (Reuters) – Russian President Vladimir Putin called for the government and central bank to coordinate efforts to curb high inflation, stating on Wednesday that increasing the supply of goods and services to match demand is essential for controlling price growth.

Central Bank Governor Elvira Nabiullina announced earlier on Wednesday that annual inflation, currently at nearly 9%, has not started to decline. She indicated that inflation is expected to decrease over the course of 2025, reaching the central bank's target rate of 4% by 2026.

"It is also necessary to curb inflation, which is currently at a fairly high level," said Putin during an international investment conference organized by Russia's second-largest lender, VTB, in Moscow.

"To achieve positive results in this area, coordinated joint actions by the government and the Bank of Russia are needed. I emphasize this is not an appeal or a wish, but a direct call to action," Putin asserted.