The Central Bank predicted an increase in annual inflation in the Russian Federation in the coming months
The Bank of Russia has predicted an increase in annual inflation in the coming months, about this it says in the regulator materials.
“According to the forecast of the Bank of Russia, annual inflation will continue to rise in the coming months. This will be associated with increasing price pressure,” the Central Bank noted.
They indicated that significant pro-inflationary risks have materialized in Russia, such as growth in domestic demand, outpacing the possibilities for expanding output, as well as the weakening of the ruble.
To limit the scale of inflation and return to four percent in 2024, it was necessary to increase the key rate, the regulator explained.
Consumer prices in Russia increased in August by 0.28 percent (in July – by 0.63 percent), the growth slowed down when adjusted for seasonality. In annual terms it is nine percent.
Earlier, Russian President Vladimir Putin, during a meeting on the country’s draft federal budget for 2024-2026, said that the acceleration of inflation in Russia was primarily provoked by the weakening of the national currency.
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