Russians’ inflation expectations rose to 12.2% in November – Kommersant
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Inflation expectations of Russian citizens rose to 12.2% in November, according to the data from the InFOM survey published on the Central Bank website (.pdf). This is the highest figure since February 2023. In October, this figure was 11.2%.
Observed inflation reached its highest since December 2022 and amounted to 15.1%. Inflation expectations among surveyed Russians without savings in November rose to 13.4% (+0.3%), with savings – to 10.8% (+1.4%). The observed inflation estimate for respondents without savings was 16.6% (+0.7%), with savings – 13.4% (+1.5%).
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. The Central Bank takes this indicator into account when making decisions on the key rate.
Earlier, the head of the Central Bank, Elvira Nabiullina, at a plenary meeting of the State Duma statedthat annual inflation in Russia now exceeds 7%. This level, she said, cannot be called “harmless.” In September the Bank of Russia reportedthat annual inflation will be 6–7% in 2023 and return to 4% in 2024.
More details in the text “Kommersant” “Christmas tree stand”.
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