Inflation at the beginning of 2026 has accelerated slightly due to the restructuring of the tax system, but this effect is expected to be temporary. This was stated by Russian President Vladimir Putin during the first meeting on economic issues of the year, quoted by TASS, BTA reports.
“At the beginning of the current year, inflation did accelerate slightly: as of January 26, it amounted to 6.4 percent on an annual basis“, the head of state indicated. According to him, this development was expected, including in connection with the restructuring of the tax system and the increase in the value added tax. "The impact of these changes on prices will be short-term," Putin stressed. The president expects inflation to slow to 5 percent by the end of the year.
During the meeting, the Russian president also announced that Russia's gross domestic product had grown by 1 percent in 2025. "Based on the results of last year, Russia's GDP increased by one percent. This is lower than the dynamics observed earlier, and we are well aware of this," he said.
Putin proposed discussing the preliminary results of the development of the national economy, as well as forecasts for the future in light of current internal and external factors. "Let us analyze in detail the mechanisms for achieving our goals in the economic sphere and supporting the growth necessary for the country's confident and dynamic development," the Russian leader said.
The president emphasized the need to increase the efficiency of the economy by creating modern and well-paid jobs. "It is important to improve the employment structure by creating modern jobs in sectors with high labor productivity," he said.
Increasing labor productivity is a priority, especially against the backdrop of a shortage of personnel in a number of industries, Putin emphasized. According to him, this requires more active implementation of automated systems, industrial robots, digital platforms and solutions in the field of artificial intelligence.