In April 2025, the growth of consumer prices continued to slow down on a monthly basis, according to seasonally adjusted data. Non-food prices showed little change over the month, while food and service prices rose at a slower pace.
Annual inflation saw a decrease in April but remains significantly above the target. The Bank of Russia stated that its monetary policy will continue to be restrictive as necessary to bring inflation back to 4% by 2026. Future decisions regarding key rates will be influenced by the rate and sustainability of the decline in inflation and inflation expectations.
Further information can be found in the latest issue of the Bank of Russia’s information and analytical commentary titled Consumer Price Dynamics.
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