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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

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,

Inflation Expectations and Consumer Sentiment Inflation Expectations and Consumer Sentiment June 2025 May 2025 April 2025 March 2025 February 2025 January 2025 December 2024 November

Inflation expectations go down but remain elevated 25 June 2025 News Share VKontakte WhatsApp Telegram In June 2025, estimated inflation expected by households in a

Annual inflation also continued to decrease in May, but was still considerably above the target. The Bank of Russia is determined to bring inflation back

trend inflation estimates and modified core inflation. 2 - CPI data source: Rosstat. For details of methodology, see Deryugina et al (2015). Evaluating the underlying inflation

hold near 4% thereafter 2 Inflation expectations remain elevated Household’s inflation expectations, observed inflation and inflation, YoY Households’ inflation expectations fell to 9.1

upcoming meetings 1 Inflation is close to 4% Inflation and BoR key rate, YoY In September, annual inflation stood at 3.7%. Inflation processes are

1 Inflation slowdown is still overshooting the forecast Inflation and BoR key rate, YoY In January, annual inflation declined to 2.4%. The inflation slowdown