CBR to factor higher than expected third quarter inflation into Oct forecast - Zabotkin

MOSCOW. Oct 14 (Interfax) - Inflation in Russian turned out to be slightly higher than expected in the third quarter and the Central Bank of Russia (CBR) will factor this into its October forecast, CBR deputy governor Alexei Zabotkin said.

"It's probably inappropriate to talk about an intensification of inflationary pressure [in September]. On the whole the rate of price growth in September in its persistent part and the overall index seasonally adjusted were lower than in July-August. But compared to the July forecast, the third quarter as a whole was probably somewhat higher in terms of the inflationary environment, and this will be factored in when the forecast is revised on October 23," Zabotkin told reporters at the State Duma.

The Federal Statistics Service reported that annual inflation accelerated to 6.35% in September from 6.33% at the end of August, although analysts had expected it to slow to 6.26%. The CBR projected in comments on its July medium-term macroeconomic forecast that annual inflation would be 6.3% at the end of the third quarter.

The CBR's July forecast projects inflation in the range of 6-7% for 2026.