Nabiullina: inflation in Russia is becoming stable

In Russia, there is increased inflation, which is becoming more and more stable over time. This was stated by the head of the Bank of Russia Elvira Nabiullina, speaking at the St. Petersburg Economic Forum.

“We believe that our inflation already has a significant share of stable components … We already have high inflation, we already have high inflation expectations,” said Ms. Nabiullina. According to the head of the Central Bank, the acceleration of inflation in Russia was preceded by temporary factors – an increase in world prices for food, raw materials and exchange goods, the effect of a weakening of the exchange rate.

“But why do we believe that this is no longer temporary, but sustainable? The analysis of the components shows that stable inflation factors that do not depend on external prices are also growing at an increased rate. Secondly, we see that inflationary expectations are at a four-year high and have been at an elevated level for several months, ”added Ms Nabiullina.

According to Rosstat, inflation in the Russian Federation in April 2021 slowed down to 0.58% from 0.66% in March, 0.78% in February and 0.67% in January, in annual terms in April it slowed down to 5.5 %.

Read more about inflation in the country in the first six months – in the material of “Kommersant” “Inflation in Russia reached its peak.”