Annual inflation continues to go down in August

Seasonally adjusted monthly price growth in annualised terms was 4.1% (vs 8.4% in July). The August deceleration was to a great extent related to one-off and volatile factors. Measures of underlying inflation remained within the range of 4.0–6.0%.

Despite the decline, annual inflation in August stayed considerably above the target. The Bank of Russia’s monetary policy is aimed at bringing inflation back to 4.0% in 2026 and maintaining it close to this level further on.

More details are available in the new issue of the Bank of Russia’s information and analytical commentary Inflation in Russia.