MOSCOW, October 27. /TASS/. Russia passed the inflation peak in the third quarter of this year and it would decelerate further on, Governor of the Central Bank Elvira Nabiullina said at the press conference after the Board meeting.

"We passed [the peak] of price growth in the third quarter; inflation will start slowing down. However, from our standpoint, the inflation peak in annual terms will fall on the next spring, largely due to the effect of base. This is inflation twelve months forward, so to say," Nabiullina noted.

The Bank of Russia raised the key rate by 2 percentage points to 15% per annum on October 27, having indicated that the current inflation pressure became much stronger.