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of inflation seen between 2011 and 2013. Yet, we saw in the past how inflation was down but then up again. Volatility of inflation is

for actual household inflation household inflation Bloomberg actual household inflation household inflation Bloomberg Reporting inflation expectations for the expectations for consensus inflation expectations for the

unsteady price movements and the elevated inflation expectations of households point to persistent pro-inflationary risks. Overall, in October annual inflation was in line with the

the Bank of Russia’s website. of a respective currency, interest rates, inflation rate, derivatives’ prices, official statistical information, physical, biological and (or) Individual Indicators

level matching our 4% inflation target. Monetary policy shall remain moderately tight to ensure a decline in inflation. The reduction in inflation from 6 to

further curb inflation. Second, the US Federal Reserve System is expected to carry out a tighter monetary policy in December. Nevertheless, market participants’ inflation expectations

to settle down on a sustainable path out of stagnation. The current inflation dynamics are within the bounds of the Bank of Russia’s baseline

level matching our 4% inflation target. Monetary policy shall remain moderately tight to ensure a decline in inflation. The reduction in inflation from 6 to

million-plus cities have a better understanding of economic meaning behind the terms inflation and monetary illusion. The majority of Russian citizens have the opinion that

assess the efficiency of the Bank of Russia’s communication policy under inflation targeting environment. The authors conclude that the use of new communication policy