Russian Central Bank Sees No Significant Change in Inflation Dynamics

Forex - Alexei Zabotkin, Deputy Governor of the Central Bank of Russia, stated that they have not observed any significant changes in inflation dynamics and have consistently seen high price increases over the past two months. According to Rosstat data, inflation has been at 6.75% since the beginning of the year, which is well above the Central Bank's target of 4%. The central bank, which raised interest rates to 21% last month, expects inflation, currently at 7.4% for 2023, to reach between 8% and 8.5% by the end of the year.