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Tough monetary conditions needed for steady lowering of inflation — Bank of Russia

According to the Central Bank, consumer prices gained 0.86% in January 2024 and 0.68% in February of this year

MOSCOW, March 25. /TASS/. Stringent monetary conditions in effect for a long time are required to keep the trend of reducing stable components of inflation, the Bank of Russia said.

"The decline in price growth is insufficiently steady so far. To keep the trend of lowering stable components of inflation, tough monetary conditions should be kept during a long period of time," the regulator said.

According to the Central Bank, consumer prices gained 0.86% in January 2024 and 0.68% in February of this year. Monthly incremental growth of prices with the seasonal adjustment did not change in annual term and stood at 6.3%.

"Annual inflation surged to 7.69% (7.44% in January). Despite the slowdown of current price growth rates, they are higher than a year ago so far," the regulator added.

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Central Bank of Russia

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