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calculation of annual inflation. This may be considered as a purely technical factor. Sustainable trends point to inflation of about 4%. Second. Inflation expectations of

amid August ruble depreciation. Annual inflation slowdown paves the way for a future decline in inflation expectations. Taking actual inflation dynamics into account, the Bank

calculation of annual inflation. This may be considered as a purely technical factor. Sustainable trends point to inflation of about 4%. Second. Inflation expectations of

63 55 50 50 Inflation, as % in December year-on-year 4.3 4.0-4.5 4.0 4.0 4.0 Inflation, average for the year,

and constitutes an underlying asset. rate of a respective currency, interest rates, inflation rate, derivatives’ prices, official statistical information, physical, Table 3.5 biological and

same. Household inflation expectations did not change in July as perceived inflation slowed. The ratio of these indicators suggests that households expect inflation to decelerate

in July and the If inflation continues to go down, inflation strengthened market expectations of further expectations approach the actual inflation rate monetary policy easing

in inflation due to price changes by group Table 4 of goods and services, year-to-date (percentage points) Food1 Non-food Services Fruit Inflation for Core inflation

communications “Floating rate and Inflation targeting is Instruments are Inflation below 4% Inflation 4.3% represented as a developed, the inflation targeting midterm goal in

Consumer prices Inflation slowdown Inflation by main groups and core inflation, is continuing. In June % change on corresponding month of previous year inflation declined to