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to significantly contribute to an acceleration of annual inflation in October. INFLATION, CORE INFLATION, AND TREND INFLATION (% GROWTH)..............................................................................................................................................................................................................................................................................................................................................................................................................Chart 1 20 16 12 8 4

Inflation in Russia Inflation in Russia Until September 2025, the material was titled Consumer Price Dynamics 2026 2025 2024 2023 2022 2021 2020 2019 2018

policy in turn impacts inflation expectations. Achieving the inflation target and maintaining inflation at a consistently low level help anchor inflation expectations and reduce their

Inflation Expectations and Consumer Sentiment Inflation Expectations and Consumer Sentiment July 2026 June 2026 May 2026 April 2026 March 2026 February 2026 January 2026 December

Inflation expectations increase in July 28 July 2026 News Share VKontakte Telegram Макс In July 2026, inflation expected by households in one year was estimated

own inflation expectations. High inflation expectations of businesses prevent lending rates from going down, even if the key rate is significantly reduced. Conversely, when inflation

No. 10 (18) • October 2023 More +Hide - Monetary Policy Inflation in Russia 2 21.08.2026 Inflation in Russia Until September 2025, the material was

low inflation. Key rate Since 27.07.2026 14.00% Inflation July 2026 6.0% Inflation target 4.0% The Bank of Russia maintains inflation

low inflation. Key rate Since 27.07.2026 14.00% Inflation July 2026 6.0% Inflation target 4.0% The Bank of Russia maintains inflation