In February, the growth of consumer prices continued to slow but remained elevated. Annual inflation is still significantly above 4%, with underlying inflationary pressures persisting.
Certain conditions have emerged that could bring inflation back to 4% by 2026. The regulator will continue to analyze the rate and sustainability of the decrease in inflation and inflation expectations. "If price growth does not decelerate as fast as required to achieve the target within this period, the Bank of Russia will consider raising the key rate."
More details are available in the new issue of the Bank of Russia’s information and analytical commentary "Consumer Price Dynamics."