Households’ inflation expectations edge up
23 May 2024
News
In May 2024, estimated inflation expected by households in one year rose to 11.7% from 11.0% a month earlier, as shown by InFOM’s survey. The increase was due to the growing expectations of respondents without savings. Contrastingly, inflation expectations of respondents with savings remained at about the same level for the third month in a row.
Households’ long-term inflation expectations for the next five years went up as well to 10.4%. The consumer sentiment index stayed fairly constant, holding close to its historical peak. Price expectations of businesses also generally remained unchanged at a high level.
More details are available in the new issue of the Bank of Russia’s commentary Inflation Expectations and Consumer Sentiment.
Preview photo: Estherpoon / Shutterstock / Fotodom