Inflation expectations remain elevated in May

According to a survey by inFOM commissioned by the Bank of Russia, respondents estimate inflation at 11.3% in the next 12 months. Businesses’ short-term price expectations also continued to rise in May.

Analysts’ inflation forecasts for 2021 increased albeit remained below the Bank of Russia’s forecast. More information is available in the latest issue of the Bank of Russia’s commentary Inflation Expectations and Consumer Sentiment.