Russians expect inflation to reach 12.7% next year – Kommersant
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The Bank of Russia reported that citizens’ inflation expectations in January 2024 decreased slightly, but still remained elevated. According to the regulator, Russians believe that next year the inflation rate will reach 12.7%.
“In January 2024, the estimate of inflation that people expect in a year fell to 12.7% (from 14.2% the month before), but remained at an elevated level. Inflation expectations decreased both among respondents who have savings and among those who do not have savings,” the report says. Telegram channel Central Bank.
Bank of Russia analysts clarify that according to the December macroeconomic survey of the Bank of Russia, analysts’ forecast for inflation at the end of 2024 was 5.1% (no changes to October; the survey was not conducted in November). In 2025 and beyond, analysts surveyed by the Bank of Russia expect inflation to be 4.0%.
The analytical review of the Bank of Russia clarifies that the consumer sentiment index increased in January 2024 and updated its historical maximum of May 2014. Both the assessments of the current state and the expectations of survey participants have increased. In January, the share of respondents who prefer to spend free money on buying expensive goods rather than saving them increased to 30.6%.
Read more in the article “Kommersant” “We don’t expect much from inflation.”
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