Russia's inflation may be close to 14% in 2022, central bank head says

(Reuters) - Russia's inflation rate may come in close to 14% in 2022, the central bank governor said on Thursday.

Elvira Nabiullina said the pace of price rises, which surged in March following the imposition of Western sanctions, had fallen faster than the central bank's initial expectations.

Speaking at Russia's flagship annual economic forum in St. Petersburg, she added that Russia's economic contraction for 2022 would also be softer than initially feared.

(Reporting by Reuters; Editing by Frank Jack Daniel)