Spend unspent // Inflationary expectations fueled by consumer sentiment

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The assumptions of the Bank of Russia about the growth of inflation expectations in April 2023 were confirmed: in the latest Infom survey, estimates of observed inflation increased, the decrease in inflation expected in a year is insignificant, the expectations of companies, especially retailers, regarding price dynamics for the next three months are in favor of growth, and not reducing inflationary pressure. Formally, all this is happening at the time of the lowest year-on-year inflation in the history of recent decades, consumer sentiment is at its maximum over the past five years. It remains only to find out how large and long-term the inflation surge will be, but so far nothing indicates the possibility of raising the key rate by the Central Bank.

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