Analysts of the Central Bank of Russia assume inflation of more than 6-7% by the end of the current year.
Inflation in Russia may exceed the September forecast of the Central Bank of the Russian Federation of 6-7% due to continued monthly price growth near the high level of 2021. This was stated in the newsletter What are the trends saying?published on the website of the Central Bank of Russia.
It was noted that in October – December 2021, inflation on average per month was approximately 1%. In January – September 2023, prices in Russia increased by 4.6%. Inflation in September 2023 was 0.87% after 0.28% in August.
At the same time, the general inflation in the Russian Federation at the end of September was at the level of 6%, although in August it was around 5.2%. By October 9, the growth rate of consumer prices accelerated to 6.3%. Recently, the trend towards accelerating inflation has only strengthened, the Central Bank of the Russian Federation clarified.
“In recent weeks, price growth has followed the high trajectory of 2021. If monthly price growth until the end of the year remains close to this, inflation may exceed the current forecast of the Bank of Russia,” the document said.
Let’s recall that in September the Bank of Russia raised its inflation forecast for 2023 to 6-7% from 5-6.5%, but it is expected to return to 4% in 2024.
Source: korrespondent
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