MOSCOW, September 16. /TASS/. Annual inflation in Russia decreased to 14.3% in August and to 14.1% as of September 9, the Central Bank said in a press release following its board meeting on the key rate on Friday.

"Current consumer price growth rates remain low, contributing to a further slowdown in annual inflation. Annual inflation declined in August to 14.3% (after 15.1% in July); according to a 9 September estimate, it is down to 14.1%. The decline in headline inflation is largely due to continued adjustment of prices for goods and services, after they went up sharply in March," the regulator said, adding that this was supported by the dynamics of the ruble exchange rate and generally subdued consumer demand.

The Bank of Russia projects annual inflation at 5-7% in 2023 and at 4% in 2024.

The board of directors of the Russian Central Bank decided to cut its key rate at a meeting on Friday by half a percent to 7.5% per annum.