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in such circumstances. DISINFLATION AND RELIABILITY OF UNDERLYING INFLATION MEASURES SEPTEMBER 2019 18 Figure 7. RMSEs estimated over three-year-long sub-samples 5. Conclusions Bank of Russia

Bank of Russia and Central Bank of Armenia make information security cooperation agreement 18 September 2018 News Share VKontakte Telegram Макс Starting from 17 September

top companies will total $8.1 billion in 2018 Q1, or by 18% less year on year, and $9.2 billion in 2018 Q2, or

85 80 520 433 390 248 227 211 6 6 6 19 18 18 Ural 45 44 44 98 80 78 227 174 172 159

1-100 101-250 251-1000 1000+ 2018 inflation expectations >10% 10% 24% 48% 18% 9-10% 18% 21% 44% 16% 7-8% 12% 24% 45% 20% 5-6% 9% 16

8,9 1 809,3 18,6 1 717,0 18,7 1 699,0 18,3 1 728,5 18,6 debt securities delivered

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2013) and Khan et al. (2013) test it with business cycle indicators. 18 Working Paper Series EVALUATING THE UNDERLYING INFLATION MEASURES FOR RUSSIA In order

17,6 17,4 18,8 18,1 18,4 Profit (loss) of the current year 20,7 17,4 18,4 20,6 20,