Russian household inflation expectations fall to 13.7% in Aug, back to Jan level - Central Bank survey

MOSCOW. Aug 19 (Interfax) - Russian household inflation expectations have fallen to 13.7% in August, back to their December 2025-January 2026 level, according to a short inFOM survey for the Central Bank of Russia.

Inflation expectations jumped from 12.4% to 14.7% in July, their highest in years.

Observed inflation has fallen to 14.3% in August from 15.1% in July. Five-year expectations rose for the second successive month, to 12.4% in August from 11.2% in July and 10.3% in June.

Inflation expectations among respondents without savings fell from 16.5% in July to 15% in August, while among those with savings they fell from 13% to 12%.

Observed inflation among respondents without savings fell from 17.1% in July to 15.5% in August, while among those with savings it fell from 13.1% to 12.7%.

The latest survey was conducted from August 4-13.

Household inflation expectations and those of businesses are one of the important factors that the Central Bank takes into account when making monetary policy decisions. The next meeting of the Central Bank's board of directors on the key rate will be held on September 11.

Business price expectations again rose in August, but not as much as in July.