The peak of the annual inflation rate will occur in the spring of 2024, says the president of the Central Bank, Elvira Nabiullina. She did not express the regulator’s specific expectations on this issue, but noted that the inflation peak in monthly terms has already passed. In September, inflation added 0.85% compared to August and reached 6% in annual terms.
Annual inflation in Russia will peak in the spring of 2024. This was stated by the President of the Bank of Russia, Elvira Nabiullina, at a press conference after the Central Bank meeting, at which the official interest rate was raised from 13% to 15%.
Nabiullina described the regulator’s expectations as a base effect, since “this is inflation from 12 months ago.” At the same time, the peak of price growth in monthly terms has already passed and price growth will slow down, the head of the Central Bank noted.
According to the Bank of Russia, the annual inflation rate in Russia reached 6% in September, an increase of 0.85% compared to August.
Author:
Kirill Bilyk
Source: RB
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