Putin says inflation 'worrying' but Russian economy 'stable'

Russian President Vladimir Putin on Thursday acknowledged concerns over high inflation, but insisted the economy was "stable" in the face of external threats.

Russia's central bank is set to hike interest rates on Friday in its latest attempt to deal with the pace of price rises. Russia officially targets inflation of 4.0 percent, though prices have risen significantly faster since February 2022. 

The central bank has raised rates to a two-decade high of 21 percent in a bid to cool inflation.

It is set to raise them yet again at its final meeting of the year on Friday.

The Kremlin leader refrained from explicitly advising the central bank what to do in that meeting, saying only that he hopes the decision will be "balanced and meet the demands of today".