Inflation in Russia may increase slightly in coming months, says Central Bank Chief
According to the calculations of the regulator, inflation will reach 4% in the second half of 2022.
Inflation in Russia may increase slightly more in coming months, Central Bank Chief Elvira Nabiullina said in an interview with the Komsomolskaya Pravda radio station, adding that a decline in growth rates is expected in the fall.
"The effect of the rate hike will be gradual. Inflation may increase slightly more in coming months, whereas the decline in rates will start in the fall. According to our calculations, inflation will reach the goal (4% - TASS) in the second half of 2022," she said.
The regulator’s Chief Elvira Nabiullina said earlier that inflation was becoming increasingly worrisome in Russia. Annual rates of prices growth have substantially exceeded the targeted level, Nabiullina said. According to the figures provided by the national statistics service Rosstat, annual inflation in Russia accelerated to 6.02% in May from 5.53% in April.
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Inflation in Russia may increase slightly more in coming months, Central Bank Chief Elvira Nabiullina said in an interview with the Komsomolskaya Pravda radio station, adding that a decline in growth rates is expected in the fall.
"The effect of the rate hike will be gradual. Inflation may increase slightly more in coming months, whereas the decline in rates will start in the fall. According to our calculations, inflation will reach the goal (4% - TASS) in the second half of 2022," she said.
The regulator’s Chief Elvira Nabiullina said earlier that inflation was becoming increasingly worrisome in Russia. Annual rates of prices growth have substantially exceeded the targeted level, Nabiullina said. According to the figures provided by the national statistics service Rosstat, annual inflation in Russia accelerated to 6.02% in May from 5.53% in April.
Source