Putin: Prices up, inflation to dip to 5%
Putin addressed key economic topics including tax adjustments and job creation.
Inflation at the beginning of 2026 slightly accelerated due to a reconfiguration of the tax system. However, this growth is expected to be short-lived. This was stated by Russian President Vladimir Putin at a meeting on economic issues.
«At the start of this year, inflation, it«s true, accelerated slightly: as of January 26 it stood at 6.4% in annual terms. This is also expected, including due to the reconfiguration of the tax system, including the increase in VAT,» the president noted.
Putin expressed hope that the impact of these changes on prices would be short-lived and that by the end of the year inflation would decline to 5%.
«Expectations are that this period will be short-lived, and by the end of the year inflation should again fall to around 5%,» he pointed out.
The president also stated that the Russian economy must be made more efficient through the creation of modern, well-paid jobs.
«I ask colleagues to pay increased attention to improving the employment structure in the economy. It is important for us to make it more efficient by creating modern, well-paid jobs in sectors with high labor productivity,» Putin said.
According to him, this is significant both for those specialists who are already working in companies and enterprises, and for those who are only receiving professional education.
Other statements by Putin:
- Russia«s GDP in 2025 grew by 1%;
- inflation in 2025 fell to 5.6%;
- Putin stated that all macroeconomic indicators, «the whole picture,» need to be monitored;
- the president stated the need to restore the growth rates of the Russian economy;
- the first significant results of the implementation of the plan for structural changes in the Russian economy should be visible already this year.
