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Decline in inflation requires long period of tight monetary conditions — Bank of Russia

Consumer prices in Russia rose by half a percent in April 2024, according to the Central Bank. Seasonally adjusted monthly price increase went up to 5.8% in annual terms

MOSCOW, May 22. /TASS/. It is necessary to maintain tight monetary conditions during a long period for further decline in inflation, according to files released by the Bank of Russia.

"The current growth of prices is seriously lower than the level in the second half of 2023. However, most indicators did not additionally slow down compared with Q1 in April. It is necessary to maintain tight monetary conditions during a long period for further decline in inflation," the regulator said.

Consumer prices in Russia rose by half a percent in April 2024 (by 0.39% in March), according to the Central Bank. Seasonally adjusted monthly price increase went up to 5.8% in annual terms.

"The current growth of prices is notably lower than that in the second half of 2023, though it is higher than respective targeted inflation. Annual inflation rose to 7.84% (7.72% in March) as the current price growth rate outpaced that registered in April 2023," the regulator added.

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