Household inflation expectations down 1.5 p.p. in March to 10.7%

Household inflation expectations down 1.5 p.p. in March to 10.7% — Bank of Russia

Business & Economy March 15, 2023, 16:44

Annual inflation observed by households also fell in March - to 14.3% from 15% in February

MOSCOW, March 15. /TASS/. Russian households’ inflation expectations decreased by 1.5 percentage points (p.p.) in March 2023 month-on-month to 10.7%, according to files released by the Central Bank on Wednesday.

According to a survey by inFOM, the median estimate of inflation expectations for the coming 12 months amounted to 10.7%.

This is the lowest level since March 2021 when inflation expectations equaled 10.1%.

Annual inflation observed by households also fell in March - to 14.3% from 15% in February.

Russian households’ inflation expectations went up to 12.2% in February 2023 after declining for three months, 0.6 p.p. higher than in January.