In October, Russians’ saving tendency reached its highest level since March. In this respect says In the material “Analysis of trends in the retail credit segment based on credit history bureau data” published by the Central Bank.
The share of those who prefer to save increased to 55.3% after 53.2% in September. The Central Bank notes that this is happening in an environment of high inflation expectations, albeit declining, at 11.2% compared to 11.7% in the previous month. The Central Bank said, “The increasing tendency to save shows that the public is cautious about spending money in an environment where uncertainty regarding the economic situation continues.”
The regulator predicts inflation will be in the range of 7-7.5% by the end of 2023. In 2024, a decrease to 4-4.5 percent is expected, with more stability around 4 percent.
“The Central Bank’s monetary policy aims to consolidate inflation around 4% in the medium term,” the regulator reminded.
Last week parents given Tips on how to create a financial cushion for a child.
Previously, the Central Bank announced the number of Russians who took Credit for the last six months.