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Labor shortage remains inflation acceleration factor — Bank of Russia

The Bank of Russia will reduce the key rate further in such way so that to avoid a new round of inflation, Elvira Nabiullina stressed

MOSCOW, July 25. /TASS/. The strain on the labor market has somewhat declined recently but the workforce shortage remains the risk factor for inflation acceleration, Central Bank chief Elvira Nabiullina said at the press conference after the regulator’s Board meeting.

"The unemployment remains record low and the workforce shortage remains the factor of inflation acceleration," she said.

The Bank of Russia will reduce the key rate further in such way so that to avoid a new round of inflation, Nabiullina added.