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2018 2019 2019 2019 Inflation, % 3.9 2.5 5.1 4.7 Households’ inflation expectations, % Public Opinion Foundation (median, expected inflation) next 12 months

at the level consistent with the Bank of Russia’s inflation target. This will help inflation slow down to 4% as the Bank of Russia

Inflation expectations remain unchanged in July 30 July 2019 News Share VKontakte WhatsApp Telegram Despite a slowdown in inflation, households’ inflation expectations remained unchanged in

of Russia calculations. Inflation forecast Change in regional distribution of inflation Chart 8 According to the Bank of Russia forecast, annual inflation will stand at

Early supply of new crop vegetables slowed down inflation in June 16 July 2019 News Share VKontakte WhatsApp Telegram In June 2019, annual inflation slowed

June 2019 Inflation expectations and consumer sentiment 1 No. 6 (30) June 2019 Inflation expectations and consumer sentiment (June 2019) In June, households’ inflation expectations

Households’ inflation expectations and business price expectations remained elevated in June –despite slower inflation, according to the Bank of Russia’s latest commentary ‘Inflation expectations

25-75 core inflation continued to rise (by 1 pp, to 4.7%) Median Inflation driven primarily by food components. On the Core inflation other hand,

Inflation continues to slow down in May 17 June 2019 News Share VKontakte WhatsApp Telegram Annual inflation continued to decline in May to 5.1

5 June 2019 Inflation expectations and consumer sentiment 1 No. 5 (29) May 2019 Inflation expectations and consumer sentiment (May 2019) Household inflation expectations remained