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May were 0.91% lower on average than last year. INFLATION, CORE INFLATION, AND UNDERLYING INFLATION Chart 1 (% GROWTH, YOY) 63х170 20 2.0 18

Annual inflation stays low in May, although rising gradually again in most regions 19 June 2023 News Share VKontakte WhatsApp Telegram Consumer activity was recovering

Annual inflation is 2.5% in May, monthly price growth stays moderate 15 June 2023 News Share VKontakte WhatsApp Telegram In May, annual inflation started

sector. Implied inflation for OFZ-IN edged down. Analysts’ inflation forecasts for 2023 and 2024 remained virtually unchanged. The Bank of Russia forecasts that inflation will

Inflation Core inflation Underlying inflation Three-month price average growth (SA, right-hand scale) Sources: Rosstat, Bank of Russia calculations. Indicators of stable price movements Annual inflation,

Households’ inflation expectations increase while companies’ price expectations decrease 24 May 2023 News Share VKontakte WhatsApp Telegram In May 2023, households’ inflation expectations slightly increased

previous month, annual inflation slowed down because of the base effect: the significant price growth of April 2022 was excluded from the inflation calculation over

NPF returns exceed inflation: 2023 Q1 outcomes 19 May 2023 News Share VKontakte WhatsApp Telegram All non-governmental pension funds (NPFs) posted positive returns in the

April sees lower annual inflation and moderate monthly price growth 17 May 2023 News Share VKontakte WhatsApp Telegram In April, annual inflation continued to slow

2018 2019 2020 2021 2022 2023 Inflation expected in 1 year Inflation expected in 5 years Observed inflation Annual inflation Sources: InFOM, Rosstat. DISTRIBUTION OF