MOSCOW, January 17. /TASS/. Inflation trends in Russia have backtracked from 7.6% in November to 7.4% in December 2016, the Central Bank reported on Tuesday, demonstrating that inflationary pressures are weakening, the regulator said.
"We expect a continued gradual decline of inflation estimates, if the current trends in price dynamics and money aggregates remain," the regulator said in the comment. Nevertheless, risks remain that inflation will deviate from the target [4% - TASS] by year-end 2017, the Bank of Russia said.
The regulator started systematic publications of inflation trends in June 2015. The Bank of Russia believes it may be viewed as a long-term estimation for the inflation component and serves as a relatively safer benchmark for monetary policy than the more volatile actual rate of price growth. The Bank of Russia takes into consideration the inflation trend when taking decisions on its key interest rate.