Finance

The Accounts Chamber of the Russian Federation found the forecast of the Ministry of Finance on inflation too optimistic

According to the auditors, the year-end inflation will be higher than the 12.4% forecasted by the Ministry of Finance. The reason: indexation of housing and utilities services and seasonal increase in inflation at the end of the year. And it is true: inflation in fruit and vegetables will rise with every week.

The inflation forecast for 2023 - 5.5% - also seems underestimated against the background of rising world prices, increasing imports, the weakening of the ruble and the expected recovery of income, according to the Accounts Chamber.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

Read next