Talking Trends: moderate growth continues
14 October 2026
News
Macroeconomic statistics for July–August suggest that a moderate economic expansion is in place despite the temporary production disruptions. At the same time, performance across sectors remains mixed.
In September, growth in seasonally adjusted consumer prices was slower relative to the summer months. However, it remained markedly above the Bank of Russia’s target.
To deliver a steady slowdown in consumer price growth and return inflation to 4% in 2027, carefully calibrated decisions are needed as regards the further path of the key rate.
More details are presented in Talking Trends, a Bank of Russia bulletin.