Russians’ inflation expectations increased in September
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The inflation estimate that citizens expect in a year has increased to 11.7%, reports The Central Bank of the Russian Federation with reference to survey data from InFOM LLC. Compared to August, it added 0.2 percentage points, and 1.2 percentage points to the average for the second quarter of this year. The population’s assessment of observed annual inflation also increased after four months of decline and returned to the July level. The study recorded an increase in respondents’ concern about rising prices for most goods, especially gasoline, as well as meat and poultry. Consumer sentiment declined, returning to February levels, and respondents’ propensity to save increased.
Inflation expectations are the level of inflation expected by consumers and producers, on the basis of which they determine their own monetary policy and model of consumer behavior. This indicator is one of the important factors that the Central Bank takes into account when making a decision on the key rate.
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