Page 59 - RusRPTJul23

visiting fellow at the Fletcher School of Law and Diplomacy, estimates that at its pre-war peak Russia was building or upgrading 150-180 tanks a year. It has been losing roughly that number every month in Ukraine.
4.2 Inflation
According to the CBR, the inflation outlook for this year is as follows:
given the monetary policy stance, annual inflation will come in at 4.5–6.5% in 2023, return to 4% in 2024 and will be close to 4% further on.
According to Kirill Tremasov, the director of the central bank's monetary policy department, Russia's annual inflation is expected to rise in May and exceed 4% in the period from July to September. Tremasov stated that if inflation follows its usual seasonal pattern during the summer months, there could be a slight increase, adding 0.3-0.5 percentage points each month to the annual inflation rate.
Based on this projection, it is likely that annual inflation will begin to climb in May, and this upward trend may accelerate during the summer. The annual factor is expected to surpass 4% in the third quarter.
The central bank has set its inflation forecast for 2023 in the range of 4.5-6.5%. Tremasov also mentioned that they anticipate inflation to stabilize at
59 RUSSIA Country Report July 2023 www.intellinews.com