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Talking Trends: economy adjusts to new environment

2 June 2022

The Russian economy’s performance in April—May proved better than expected. A strong slowdown was seen in negative trends, which were brought about by changes in external conditions, after a sharp worsening in March. Having said that, the economy is only entering a period of structural transformation.

Consumer prices in May were marked with significantly slower growth, which mainly comes as a result of several one-off disinflationary factors, primarily a stronger ruble. Moving forward, price trends will depend on many factors on both the supply and demand side. The monetary policy stance will help bring inflation back to the 4% target in 2024.

More details are presented in Talking Trends, a Bank of Russia bulletin.

Preview photo: yuttana Contributor Studio / Shutterstock / Fotodom