Annual inflation continues to slow, this a major achievement - Putin

MOSCOW. Aug 12 (Interfax) - Annual inflation in Russia continues to slow, which is a major achievement, Russian President Vladimir Putin said during a meeting on economic issues.

"For this year, the government and the Bank of Russia had the joint task of putting the Russian economy back on a balanced growth trajectory, which means lowering inflation, above all, and, of course, keeping unemployment low at the same time. [...] In this respect, the major achievement is lowering inflation. If at the end of March it was 10.3% in annual terms, then at the end of June it was already 9.4%, and at the end of July it was already 8.8%. According to Bank of Russia estimates, consumer price growth could be within 6%-7% by the end of the year, that is lower than previous forecasts," he said.