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Bank of Russia not seeing inflation slowdown

According to the regulator, mortgage disbursement slightly slowed down, which evidences a return to the sustainable path

MAKHACHKALA, November 14. /TASS/. The Bank of Russia does not see a sustainable inflation slowdown and prices continued growing at a high pace in early November, advisor to the governor of the Bank of Russia Kirill Tremasov said.

"According to inflation data for October, we see price growth rates in general for the consumer basket slightly geared down against September. However, if we take the stable part of inflation, we see the accelerated price hike in October. In November, from November 1 to 11, we also see that the price growth rate remains high. I would say so far we do not see inflation to slow down; the rise in prices continues at high rates," he said.

Mortgage disbursement slightly slowed down, which evidences a return to the sustainable path, Tremasov noted. The corporate segment growth rates are still abnormally high.

"The mortgage segment geared down. It can be said the lending dynamics returned to a normal level there. The only segment where we see such abnormal growth and strong deviation from stable paths is the corporate lending one. Everything is still overheated there," he added.

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