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inflation due to price changes by group of goods and services,
year-to-date (percentage points)
Food1 Non-food goods Services Fruit and Inflation for the Core inflation
2014
Inflation targeting Active inflation Liquidity Transition deadline Key rate introduced Floating exchange
announced targeting management set rate introduced
communications
Since Dec. 2017
Inflation targeting
back of a rise At the same time, consumer demand is
in inflation expectations; the latter came as a result somewhat supported by non-labour incomes
7.5
- Reuters survey
(7.5) (7.5) (7.5)
3. Implied inflation rate (OFZ-IN) 5.13
(until 16 August 2023) (5.27)
* Data as
25)
path shifted upwards by 25-50 bp over a one-year 3. Implied inflation rate (OFZ-
5.27
horizon. Market prices of a number of instruments
1856
29.11.2018
voluntary health insurance posted positive figures driven by expansion in lending and inflation of the cost of medical services respectively.
Motor own damage insurance premiums
1857
21.11.2018
inflation.
Moreover, real interest rates in these countries go down as they introduce inflation targeting.
We are convinced that the policy aimed at keeping inflation
6 3.5
Balance indicators of inflation (difference of shares of components with accelerating and decelerating inflation), %
Annual inflation -41.9 -35.1 -37.6
perceived inflation Figure 8. Inflation expectations over a three-year
3
and household inflation expectations horizon
Perceived inflation Not sure Significantly below 4% a year
Inflation
they affect inflation expectations. Inflation the key rate is retained above its neutral level,
dynamics are largely determined by inflation which helps inflation slow down