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Guidelines for the Single State Monetary Policy Price Dynamics: Facts, Assessments, Comments Inflation Expectations and Consumer Behavior 'Regional Economy' Commentaries by Bank of Russia Main

4). Households’ inflation expectations edged up in March, staying above the 2023–2025 average, despite a slowdown in annual inflation (Figure 5). High inflation expectations

to expected inflation through the central bank’s reaction function. Now we need to link expected and actual inflation. To link inflation and inflation expectations,

and financial markets in financing aggregate demand; the long term money neutrality; inflation targeting as the ultimate goal of monetary policy; targeting the money market

underlying inflation still exceeds 4% as a result of the demand overheating that was observed over previous periods. It continues to translate into inflation expectations

As of 20 April 2026, annual inflation stood at 5.7%. Inflation expectations have changed diversely since March. Households’ inflation expectations declined. Businesses’ price expectations

2025 2026 2027 2028 (actual) Inflation, as % in December year-on-year 5.6 4.5–5.5 4.0 4.0 Inflation, average for the year,

As of 20 April 2026, annual inflation stood at 5.7%. Inflation expectations have changed diversely since March. Households’ inflation expectations declined. Businesses’ price expectations

into consideration when making decisions on monetary policy to analyse and forecast inflation and identify key trends in the economic development across Russia in general