Nabiullina: Central Bank expects annual inflation to decline in May
April 25, 2025, 20:22 Finance Markets Elvira Nabiullina. Photo: Sergey Bobylev/TASS
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According to the Central Bank, annual inflation as of April 21 was 10.3%
The current rate of price growth in Russia peaked in the fourth quarter of 2024, and a reversal to a decline in annual inflation is expected in May. This was stated by the head of the Bank of Russia Elvira Nabiullina at a briefing following a meeting of the Central Bank's board of directors, at which it kept the key rate at 21%, Interfax reports.
“The current rate of price growth, taking into account seasonality, in the first quarter decreased almost twofold compared to the fourth quarter,” the head of the Central Bank noted.
Nabiullina also noted that “some increase in inflation is possible in July – it is connected with such an almost permanent factor – indexation of housing and communal services tariffs.”
According to the Central Bank, annual inflation as of April 21 was 10.3%. The Central Bank's inflation forecast for 2025 is 7.0-8.0%.
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