6 Oct 2021 16:11

CBR expects annual inflation to slow in Q4, but current inflationary pressure level more important

MOSCOW. Oct 6 (Interfax) - The Central Bank of Russia continues to assume that it will see slowing of annual inflation in Q4, Deputy CBR Governor Alexei Zabotkin said.

"Let's recall that in July, the monthly price growth rate was fairly low, so on average the seasonally adjusted price growth rate for Q3, by all appearances, was actually lower than it was in Q2. How much lower? We will only be able to estimate that once we get the full statistics for September. In terms of annual inflation, yes, probably, we assume we will see some slowing in Q4," Zabotkin said at a press conference on Wednesday.

However, what is more important for the CBR is the current level of inflationary pressure, which shows the seasonally adjusted trend in monthly figures to a greater degree, he said.