Inflation in Russia could approach 4% target in H1 2026 - advisor to Central Bank governor

VOLGOGRAD. April 1 (Interfax) - The Central Bank of Russia forecasts inflation will return to the 4% target during 2026, but Kirill Tremasov, advisor to Central Bank governor, said inflation could approach that level as early as the first half of next year.

"We expect inflation to return to the target next year. I think we can see it approaching 4% as early as the first half of next year," he said at a communications session to explain CBR credit policy to businesses, public associations and authorities in the Volgograd Region.

He said the Central Bank would publish a new forecast following the board's rate-setting meeting on April 25. "The February forecast assumed that inflation would be 7%-8% by the end of this year. At the moment, the annual figure, that is price growth over the past 12 months, is 10.2%," he said.