ST. PETERSBURG, May 29 (PRIME) -- Russia’s annual inflation may start growing in May exceeding 4% in July–September, Kirill Tremasov, director of the central bank’s monetary policy department told reporters on Monday.
“If inflation shows its usual seasonality in the summer months, and I mean a slight increase, … the annual factor may start adding 0.3–0.5 percentage points each month,” he said.
“That is why annual inflation will most likely start climbing in May and this upward movement … may even speed up in the summer. The annual factor would overshoot 4% most likely in the third quarter.”
The central bank expects inflation at 4.5–6.5% in 2023 and to 4% in 2024, he said.
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