The Central Bank of Russia (CBR) said that the people’s inflation expectations declined in November 2022 and remained high in the range of April-October values of this year. writes about it interfax.
The regulator pointed out that businesses’ short-term price expectations continued to rise in November.
Thus, pro-inflationary and disinflationary risks are balanced in the short-term, while pro-inflationary risks gain weight in the medium-term.
The Central Bank said that annual inflation in the country will be 12-13 percent at the end of the year. The Central Bank believes it will fall to 5-7% in 2023 and return to 4% in 2024.
According to the “infom” survey, the population’s expectation of inflation in November fell to 12.2% after rising from 12.5% in September to 12.8% in October.
At its plenary session on November 23, the State Duma accepted in the third, final reading, a government bill that sets a living wage in Russia in 2023 at the level of 14,375 rubles.
Anton Kotyakov, Head of the Russian Ministry of Labor declarationFrom 1 January 2023, the minimum wage (SMIC) and living wage will be above inflation.