MOSCOW, July 17. /TASS/. Russian households’ inflation expectations rose to 11.1% in July from 10.2% in June, according to files released by the Central Bank on Monday.

According to a survey by inFOM ordered by the Bank of Russia, the estimated inflation expectations equaled 11.1% in July, which is the highest level since February 2023 when they stood at 12.2%.

Annual inflation observed by the population totaled 13.8% in July, down from 13.9% in June. It has been stably declining since May 2022.

In April Russia’s Central Bank downgraded its inflation outlook for 2023 from 5-7% to 4.5-6.5%. The regulator expects inflation to return to the target of 4% in 2024 considering the current monetary policy.