Current inflation in Russia is stable, so you should not seriously count on a rapid decline in 2024. The newspaper reports this “News”With reference to the forecasts of the rating agency “Expert RA”
As experts from the rating agency note, the main reasons for rising prices are similar to global trends. However, local factors such as active budget expenditures were also added to this. In response to the increase in inflation, the Bank of Russia sharply increased the interest rate to 16%. However, so far this step has not led to a slowdown in price growth. According to experts, inflation in the Russian Federation will remain high throughout 2024.
The main problem is that inflation is total and affects almost all goods and services. Prices are rising simultaneously across the entire range of goods and services. This ensures that the process is self-sustainable. As Expert RA emphasizes, by the end of 2023, the share of increasingly expensive products reached 79%.
In addition, the increase in prices indicates geographical simultaneity – inflation is approximately the same in all regions of the Russian Federation. Only in the Ural and Northwest regions is it slightly lower than in all of Russia.
Outside experts have also expressed skepticism about the prospects of quickly reducing inflation. Therefore, Anton Prokudin from Ingosstrakh-Investments does not see a significant decrease in imports due to high Central Bank interest rates.
The other day at the Central Bank statedRussians’ inflation expectations have decreased.
The Bank of Russia had not done this before. excluded new rate increase.