Central bank: Russia’s trend inflation speeds up to 4.11% in Jan

MOSCOW, Feb 16 (PRIME) -- Russia’s trend inflation calculated for a five-year interval accelerated to 4.11% in January from 4.10% in December 2020, the central bank said in a statement late on Monday.

An estimate for a three-year interval increased by 0.13 percentage points on the month to 4.24% in January.

“In general, the values of the trend inflation indicator remain close to 4%. However, their gradual increase coupled with the growth of the modified indicators of core inflation indicates persistence of pro-inflationary factors of a long-term effect on the supply side (including structural factors). At the same time, disinflationary factors are weakening as a result of continued recovery in demand in the economy,” the regulator said.

“Thus, the dynamics of price indicators, which are less sensitive to the influence of one-time and temporary factors compared to the general inflation indicator allows us to talk about weakening of disinflationary risks while maintaining pro-inflationary risks.”

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