Feb 20, 2021
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The Central Bank of the Russian Federation predicts inflation above 4% from the first to the third quarter of 2021

Annual inflation in the Russian Federation will exceed 4% in the I-III quarters of this year, according to the report of the Bank of Russia.

However, at the end of 2021, it is forecasted in the range of 3.7-4.2%.

The peak value of inflation relative to the same period last year is expected in the first quarter, then the rate of growth of prices will slow down and by the end of the year will return to the target value of 4% and will remain close to it in the future, the regulator said.

It is noted that a major role in the deterioration of inflationary expectations of Russians for the year ahead was played by a jump in food prices: sunflower oil, sugar and potatoes.

The head of the Central Bank of the Russian Federation Elvira Nabiullina said earlier that the peak of inflation in the country in annual terms is expected in February-March. The indicator will be 5.5%, after which it will begin to decline.

Rosstat reported that inflation from February 9 to 15 was 0.2%, and this trend has been maintained for the second week in a row.

Since the beginning of February, consumer prices have increased by 0.4%, and since the beginning of the year – by 1.1%. In annual terms, inflation as of February 15 was 5.41%.

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