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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
912
14.02.2025
into consideration the speed and sustainability of the inflation slowdown. The baseline scenario provides that returning inflation to the target will require a longer period
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14.02.2025
we return to single-digit inflation?
ELVIRA NABIULLINA:
Indeed, inflation is currently unacceptably high.
Regarding our inflation forecasts, we have raised our inflation forecast for this
2025 2026 2027
(actual / estimate)
Inflation, as % in December year-on-year 9.5 7.0-8.0 4.0 4.0
Inflation, average for the year, as
915
14.02.2025
into consideration the speed and sustainability of the inflation slowdown. The baseline scenario provides that returning inflation to the target will require a longer period
2022 2024 2004 2008 2012 2016 2020 2024
Perceived inflation Actual inflation Perceived inflation Actual inflation
Sources: Rosstat, inFOM. Sources: Eurostat, European Consumer Survey.
Consumers
variables
term technology shocks41. Periods of rapid inflation before inflation targeting are associated
with loose monetary policy, and inflation spikes in 2014–2015 and 2022
918
06.02.2025
money market funds and deposits (both ruble- and foreign currency-denominated ones) exceeded inflation.
In January, the trend changed when the highest return was received on
schedule 13
26-28 November 2025
Web Scraping as a Tool for Real-Time
Inflation Assessment by the Central Bank
of Armenia Using R Software
Central Bank
920
05.02.2025
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The growth rate of consumer prices and inflation expectations stay high. Economic activity was increasing in December 2024—January 2025,