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Inflation may accelerate in early 2026, this does not cancel vector of rate’s reduction

Central Bank Governor Elvira Nabiullina said this addressing the the lower house of the Russian parliament

MOSCOW, October 30. /TASS/. Inflation may accelerate briefly at the beginning of next year, though this does not cancel the vector of the key rate’s reduction, Russian Central Bank Governor Elvira Nabiullina said.

"We forecast inflation to decline next year. It may accelerate briefly at the beginning of the year due to tax increases, and later due to outstripping growth of utility rates, but this does not cancel the trend toward the key rate’s reduction," she said addressing the State Duma (the lower house of the parliament).

"Here it is very important that the overall configuration of the budget for next year will generally contribute to a decline in inflation," the regulator’s chief added.