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DFAs with returns linked to the dynamics of understandable indicators such as inflation, the key rate, and the prices for precious metals or stocks – within

of the slowdown in inflation and the dynamics of inflation expectations. According to the Bank of Russia’s forecast, annual inflation will decline to 4.

11 5 inflation Inflation % YoY Oct25 7.7 6.9 8.3 8.8 7.9 8.1 8.1 7.5 Core inflation % YoY

etc., may be used to improve forecasts of macroeconomic indicators, e.g. inflation. According to the forecasting approach proposed by Urmat Dzhunkeev (MDigital), traditional ensemble

tariffs on India’s goods. Nonetheless, inflation in India stays persistently low, equalling 0.3% YoY in October 2025. Inflation in Trkiye has continued to

in the economy to ensure a sustainable return of inflation to 4%. More details on inflation in each Russian region are available in the information

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

inflation. If households and businesses take note of low inflation, inflation expectations moderate, too, consistent with this low inflation. Elvira NABIULLINA: Some say: ignore inflation

the inflation slowdown and the dynamics of inflation expectations. According to the Bank of Russia’s forecast, given the monetary policy stance, annual inflation will

business inflation expectations (balance of responses, % SA) 30 25 20 15 10 5 0 2021 2022 2023 2024 2025 Household observed inflation Household inflation expectations