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in inflation and the dynamics of
% Inflation inflation expectations.
target
• According to the Bank of Russia’s forecast,
given the monetary policy stance, annual
inflation
72
21.11.2025
Annual inflation slows in most Russian regions
21 November 2025
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In October, annual inflation decreased in 65 out of 85
73
19.11.2025
1%, mainly due the acceleration of underlying inflation.
One-off factors also continued to make a substantial contribution to inflation. Prices for petroleum products were still
2025
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,
75
29.10.2025
Households’ inflation expectations remain unchanged
29 October 2025
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In October 2025, one-year-ahead inflation expectations of households did not change against
76
27.10.2025
of Russia pursues tight monetary policy aimed at bringing inflation down to 4%. More details on inflation in each Russian region are available in the
INFLATION BY GROUP OF GOODS AND SERVICES
(PP)............................................................................................................................................................................................................................................................................................................................................................................................................................................. Table 8
Fruit and Inflation over Non-core
Food products Non-food goods Services Core inflation
vegetables period, % inflation
78
15.10.2025
Annual inflation continues to decelerate
15 October 2025
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Over the past 12 months, prices in Russia went up by 8.
79
14.10.2025
Talking Trends: underlying inflation remains above 4%
14 October 2025
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In September, seasonally adjusted monthly price growth was accelerated, driven
2025
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,