Price growth rates remain high, no changes in inflation picture visible for now - deputy CBR chairman

MOSCOW. Nov 11 (Interfax) - Price growth rates remain high, with no visible changes in the inflation picture yet, Deputy Chairman of the Central Bank of Russia Alexei Zabotkin told journalists.

"If we look at the last month or two, the picture still shows consistently high rates of price growth, and significant changes in inflation dynamics are difficult to see in the data so far," Zabotkin said following a meeting of the United Russia faction with the CBR's leadership.

"Inflation remains at a high level, as reflected in the forecast which was updated in October," he said.

In October, the Central Bank raised its inflation forecast for 2024 from 6.5%-7% to 8.0%-8.5% and from 4%-4.5% to 4.5%-5.0% for 2025.

"Data for the past week are largely related to rising prices for fruit and vegetables. Regarding core components, the past week was probably somewhat lower than the previous one," he said.

Inflation in Russia from October 29 to November 5, calculated for eight days instead of the traditional seven due to the holiday, stood at 0.19%, following 0.27% from October 22-28, Rosstat previously said.