Talking Trends: price growth picks up temporarily

At the same time, rising fuel prices may negatively affect inflation expectations and inflation. Also, high uncertainty remains about future external economic conditions. For inflation to decelerate to 4% and stay close to the target, monetary conditions must remain tight, taking into account the impact of prices on inflation expectations.

Economic activity in the second quarter was above the level of the first, but sectoral heterogeneity became more pronounced.

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