MOSCOW, March 20. /TASS/. Stable inflation in Russia will reach around 4% in the second half of 2026 and stabilize at the target level in 2027, the Bank of Russia announced following its board meeting.

"According to the Bank of Russia’s forecast, given the monetary policy stance, annual inflation will decline to 4.5-5.5% in 2026. Underlying inflation will be close to 4% in 2026 H2. In 2027 and beyond, annual inflation will stay on target. In January - February, the current seasonally adjusted price growth averaged 10.2% in annualized terms compared to 4.4% in 2025 Q4. The similar indicator of core inflation averaged 7.0% after 5.0% in the previous quarter. As of 16 March 2026, annual inflation stood at 5.9%," the regulator said.

However, inflation expectations have not changed significantly since February, and their continued elevated level could hinder a sustainable slowdown in inflation, the regulator noted.

On Friday, the Bank of Russia cut its key rate by 0.5 p.p. to 15% for the second time this year.