Nabiullina: Underlying inflation will remain close to current levels in H2 2026

MOSCOW. July 24 (Interfax) - The Central Bank of Russia has kept its estimate for underlying inflation unchanged and predicts that the indicator will remain close to current levels in the second half of 2026, CBR Governor Elvira Nabiullina said.

"We have not changed our estimate of underlying inflation and assume that it will stay close to the current level in 2026 2H," she said at a press conference following the CBR board meeting, where it took the decision to lower the key rate by 25 basis points (bps) to 14% per annum.

"Given the realised rise in fuel prices and the subsequent increase in prices for other goods, we have revised our inflation forecast for this year upwards to 6.0%-7.0%.," she said.