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amid persistently high inflation. However, annual inflation fell from 75.5% in May 2024 to 48.6% in October 2024 (monthly inflation rate in October

10 5 inflation Inflation % YoY Oct24 8.5 9.1 7.9 8.3 8.5 7.9 8.7 8.7 Core inflation % YoY

period. It is one of the most important indicators that describes the inflation processes in economy. Economically active population – persons at the age of 15

is one of the main tools that central banks use to control inflation as it can boost the efficiency of monetary policy. To assess the

underlying inflation remained high. The significant tightness of monetary policy that has been achieved creates the conditions for resuming disinflation processes and returning the inflation

which is partially reduced by inflation and partially offset by higher tax revenues. However, we set aside the issue of inflation’s impact on accumulated

respectively, inflation caused by the macroeconomic shock equals about 6%. In the absence of trade and financial costs though inflation remains zero. Higher inflation in

volatility of such key economic volume indicators as output and consumption, while inflation as a price indicator exhibits higher volatility. This increased volatility arises from

K. Styrin This paper studies how the effect of macroeconomic shocks on inflation depends on the severity of restrictions on international borrowing and imports. Using

inflation indicators Trend inflation Decline / slow growth (less than 3% SAAR) CPI Median (566 items in 2024) Growth close to target (3–5% SAAR) Inflation