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2021 2022 2023 2024 (actual) Inflation, as % in December year-on-year 8.4 18.0-23.0 5.0-7.0 4.0 Inflation, average for the year,

is that inflation observed by households is 19.9%, according to the survey. The officially reported current inflation rate, the estimate of annual inflation based

a meaningful factor shaping the path of inflation and inflation expectations. The movements of the economy and inflation will also depend on future fiscal policy

MB MB MB MB MBs’ percentage in inflation % 2022 100 34 11 12 14 13 11 5 Inflation % YoY Mar22 16.7 16.6 17.

operational objective of the Bank of Russia’s monetary policy within the inflation targeting strategy is to maintain rates in the unsecured overnight segment of

a further escalation of inflation and long-term interest rates. The rates will decline following the decrease in the key rate and inflation slowdown. Moreover, the

Considering the monetary policy pursued, inflation is expected to slow down steadily in 2023. This will create conditions for returning inflation to 4% in the

Bank of Russia discusses anti-crisis measures with business associations 20 April 2022 News Share VKontakte Telegram Макс A gradual decline in inflation will help businesses

for individual products. Hence, inflation will exceed the target. Therefore, it is essential to comprehend that such a rise in inflation above the target will

reaching 21.8%. Beginning from the end of October 2021, amid higher inflation and geopolitical risks and, accordingly, uncertainty about further changes in interest rates,