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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,
92
28.07.2025
rates. Annual inflation is forecast to return to 4% in 2026 and remain close to this level further on.
More details on inflation in each
93
28.07.2025
Inflation expectations remain elevated
28 July 2025
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According to InFOM’s survey, in July 2025, the estimate of inflation expected
INFLATION BY GROUP OF GOODS AND SERVICES Table 8
(PP)
Fruit and Inflation over Non-core
Food products Non-food goods Services Core inflation
vegetables period, % inflation
95
16.07.2025
Annual inflation declines for third consecutive month
16 July 2025
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In June, annual inflation was down to 9.4%. Monthly
96
15.07.2025
and was close to the target for inflation in annual terms. Businesses and households reported a decline in inflation expectations, with business costs decelerating. However,
inflation expectations (in Russia)? What does
such diversity imply for the inflation dynamic (in Russia)?
There is an extensive literature on studying heterogeneity of inflation
98
10.07.2025
overestimate future inflation and are highly reactive to short-term inflation spikes—indicating that their expectations are weakly anchored. Firms also tend to overestimate inflation, though
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,
100
25.06.2025
Inflation expectations go down but remain elevated
25 June 2025
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In June 2025, estimated inflation expected by households in a