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higher market rates constrain demand and inflation, while lower ones stimulate them. In addition to monetary policy and demand, inflation and financial market trends are

Annual inflation was down in 49 regions. The Bank of Russia will pursue monetary policy to ensure consistently low inflation. More details on inflation in

given the situation for achieving Foreign currency-denominated assets and precious metals the inflation target. The key rate is set by the Bank of Russia mainly

February–March 2026, but despite weaker consumer activity, stayed elevated. To bring inflation back to the target sustainably, monetary conditions should remain tight. More details

widened for many indicators. These include CPI inflation, unemployment rate, exports, imports, trade balance and oil price. • Inflation: Analysts have raised their forecasts for 2026

policy to ensure consistently low inflation. More details are available in the new issue of the information and analytical commentary Inflation in Russia. Preview photo:

the capacity utilisation rate remained significantly above the 2017–2019 level, when inflation was low. Further details are available in the April issue of the

the Bank of Russia CPI seasonal adjustment specifications (2026) Trend inflation estimates and modified core inflation Seasonally adjusted dynamics of consumer price growth Dynamics of

2025, assets of the Russian financial sector increased almost 3.5-fold, outpacing inflation. Non-bank financial institutions (NFIs) recorded faster growth compared to banks, with the

2026 Expected inflation (one year) Expected inflation (one year), three-month average Expected inflation (five years) Observed inflation Observed inflation, three-month average Annual inflation Sources: InFOM,