MOSCOW, November 6. /TASS/. The Bank of Russia projects a slowdown of seasonally adjusted inflation to 6.5-8.5% in Q4 2024 from 11.1% in Q3, according to the regulator’s commentary to the midterm macroeconomic review. In Q1 and Q2 the indicator equaled 5.9% and 8.7%, respectively.

That said, inflation outlook for 2024 and 2025 has been upgraded to 8-8.5% and 4.5-5%, respectively. "The revision of the forecast is a result of more notable and stable inflation pressure, as well as consideration of certain measures regarding an increase in regulated tariffs and prices and adjustment of budget parameters," the Central Bank said.

Meanwhile, a tighter monetary policy than projected in July will create necessary conditions for the return of annual inflation to 4% in the first half of 2026. Considering the current monetary policy, annual inflation will total 4% in 2026 and it will remain within the target in the future, the regulator believes.