Russian central bank still sees inflation returning to 4% in mid-2023 -agencies

MOSCOW – The Russian central bank still expects inflation to return to its 4% target in mid-2023, news agencies cited Deputy Governor Alexei Zabotkin as saying on Tuesday, as the rouble dived past 80 against the U.S. dollar on geopolitical concerns.

The sharp drop in the rouble from levels of around 70 to the greenback seen just four months ago is expected to fuel already high inflation, one of the main concerns among Russians, which would dent already falling living standards.

Zabotkin said the central bank still expects inflation at 5-6% in 2022, but he acknowledged that uncertainty remained high, agencies reported.

(Reporting by Anton Kolodyazhnyy and Alexander Marrow; Editing by Catherine Evans)