All news

Inflation peak was passed in 2021 — Bank of Russia

The Central Bank expects inflation to slow down at the turn of the first quarter or in the second quarter of this year

MOSCOW, February 11. /TASS/. The Bank of Russia continues believing that the inflation peak was passed in 2021, Central Bank chief Elvira Nabiullina said on Friday at the press conference after the regulator’s Board meeting.

"If we speak about monthly values, seasonally adjusted, then we passed the peak; it was in October. When speaking about annual indicators factoring in the price hike over the last 12 months, we are somewhat at peak values now. We do not expect any dramatic acceleration but no reverse has taken place so far, making it possible to say that there is a stable slowdown trend," Nabiullina said.

The Central Bank expects inflation to slow down at the turn of the first quarter or in the second quarter of this year, she added.