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82 pp to 9.47%. Estimated trend inflation was up to 9.46%. INFLATION, CORE INFLATION, AND TREND INFLATION Chart 1 (% CHANGE) 20 16 12

Annual inflation rises in most regions in January 24 February 2025 News Share VKontakte Telegram Макс Annual inflation increased in 75 Russian regions, but remained

2025 Expected inflation (one year) Expected inflation (one year), three-month average Expected inflation (five years) Observed inflation Observed inflation, three-month average Annual inflation Sources: InFOM,

Inflation expectations remain high 5 February 2025 News Share VKontakte Telegram Макс In January 2025, estimated inflation expected by households in one year edged up

Talking Trends: economic growth and inflation stay elevated 4 February 2025 News Share VKontakte Telegram Макс According to high-frequency indicators and surveys, the economy was

79 pp to 8.65%. Estimated trend inflation increased to 9.20%. INFLATION, CORE INFLATION, AND TREND INFLATION Chart 1 (% CHANGE YOY) 20 16 12

of Russia forecasts that annual inflation across Russia in general will return to 4% in 2026. More details on inflation in each Russian region are

2024 Expected inflation (one year) Expected inflation (one year), three-month average Expected inflation (five years) Observed inflation Observed inflation, three-month average Annual inflation Sources: InFOM,

pp to 7.86%, respectively. Estimated trend inflation was up to 8.87%. INFLATION, CORE INFLATION, AND TREND INFLATION Chart 1 63х170 (% CHANGE) 20 16

Oct. 11, 2024). Golob, J. E. et al. (1994). Does inflation uncertainty increase with inflation? Economic Review-Federal Reserve Bank of Kansas City, 79:27–27.