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and stable inflation in Russia. Price stability is a prerequisite for balanced and sustainable economic growth.
When implementing monetary policy, we follow the inflation targeting
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events.
Whatever the scenario, monetary policy will be aimed at returning annual inflation to 4%. To this end, the Bank of Russia will implement appropriate
exceeded the figures of 2017–2019, when inflation was close
to the target (Chart 10).
The average three-month-ahead inflation rate expected by businesses (in annualised
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mitigate negative consequences for inflation and economic growth.
5. Households’ and businesses’ perception of inflation and inflation expectations
Economic agents’ inflation expectations influence how efficiently
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mitigate negative consequences for inflation and economic growth.
5. Households’ and businesses’ perception of inflation and inflation expectations
Economic agents’ inflation expectations influence how efficiently
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of inflation is characterised by underlying inflation, as well as indices excluding individual volatile categories (e.g., inflation excluding vegetables, inflation excluding petrol, core inflation,
return
inflation to the target in 2026. Future key rate decisions would depend on the speed and sustainability
of the decline in inflation and inflation
provided. The inflation item shows core inflation (Core PCE) for the US, core inflation (Core HICP) for the euro area, and core inflation (Core
CPI
the decrease in inflation and inflation expectations.
According to the Bank of Russia’s forecast, given the current monetary policy
stance, annual inflation will decline
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the decrease in inflation and inflation expectations.
According to the Bank of Russia’s forecast, given the current monetary policy stance, annual inflation will decline