Talking Trends: inflationary pressures rising as solid growth remains
28 May 2024
News
In the first quarter, the Russian economy grew above most forecasts; it probably slowed slightly between April and May, flash readings suggest. The supply of goods and services is nevertheless behind aggregate demand, which is expanding on the back of rising incomes, lending and public demand.
In April, seasonally adjusted growth in consumer prices was up and back to its January—February readings. To ensure a sustained slowdown and to return inflation to target, tight monetary conditions will need to be maintained for a long time.
More details are presented in Talking Trends, a Bank of Russia bulletin.
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