In June, the seasonally adjusted monthly growth of consumer prices slowed and approached the target for inflation in annual terms. Businesses and households reported a decline in inflation expectations, with business costs also decelerating. However, price movements still vary across different segments, and the stabilization of inflation at the target level is yet to be confirmed. For inflation to steadily decrease to 4% and stabilize at this level, tight monetary conditions will need to be maintained for a sustained period.
More details are presented in Talking Trends, a Bank of Russia bulletin.
