Inflation expectations of Russians amounted to 12.2% in November

Inflation expectations of Russian residents decreased by 0.6 percentage points in November compared to October and amounted to 12.2%. Last month, the figure was 12.8%. The Central Bank announced this in its report.

The materials of the Central Bank say that the inflation observed by the population also slowed down - to 17.6% (0.6 percentage points compared to October, when it was 18.2%). Long-term inflation expectations have also declined. The consumer sentiment index of the population rose slightly.

In most industries, there was an increase in price expectations of enterprises. The average growth rate of selling prices expected by enterprises in the next three months amounted to 4.9% in annual terms.

According to the October survey of the Bank of Russia, inflation in 2022 will be 12.5%. In 2023, respondents expect inflation to fall to 6.0%. Inflation forecasts for 2024 are up slightly but remain close to 4%.

According to the forecast of the Bank of Russia, annual inflation will be 12–13% in 2022, and, taking into account the ongoing monetary policy, it will decrease to 5–7% in 2023 and return to 4% in 2024. Yesterday, November 23, Rosstat reported on an increase in consumer prices by 10.86% since the beginning of the year.

Daria Erozbek

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