Talking Trends: Economic activity rises early in the year
7 March 2023
News
Most sectors of the Russian economy posted a positive trend in January-February 2023 year. Fiscal spending and rising consumption combined to support an expansion in domestic demand.
Inflationary pressures were up slightly against the background of a notable impact of one-off factors, resulting in invariably elevated inflation expectations of households and businesses. Sustained inflation risks originated from the budget, the labour market and external conditions. Growing parallel imports and new sources of supplies helped improve the availability of goods, working as a constraint on prices as consumer demand rebounded.
More details are presented in Talking Trends, a Bank of Russia bulletin.
Preview photo: AUUSanAKUL / Shutterstock / Fotodom