Inflation in Russia has passed its peak.

The Chairman of the Bank of Russia stated this Elvira NabiullinaAccording to her, inflation has returned to normal thanks to tight monetary policy.

"If you look at the current price growth, month-on-month, you'll see that from July to November, the annualized rate was double-digit, and inflationary pressure was very strong. It dropped significantly in December and January and is now around 6%," Nabiullina noted.

Moreover, the head of the Central Bank assured that without raising the key rate, inflation would have been higher and would have continued to accelerate even now.

At the same time, according to the research holding company Romir, inflation in Russia since the beginning of the war has been around 50%.