Consumer price growth remains high
16 October 2024
News
In September, prices grew faster than in August, seasonally adjusted. Prices for outbound tourism and transportation services increased markedly, with the indexation of prices for educational services being higher than usual. Numerous measures of underlying inflation rose month-on-month.
High inflation is driven by strong domestic demand, which grows faster than the output of goods and services. For inflation to become low again, tight monetary conditions are required.
More details are available in the new issue of the Bank of Russia’s information and analytical commentary Consumer Price Dynamics.
Preview photo: Koonsiri Boonnak / Shutterstock / Fotodom