Central bank: Russia’s trend inflation speeds up to 4.75% in May

MOSCOW, Jun 15 (PRIME) -- Russia’s trend inflation calculated for a five-year interval accelerated to 4.75% in May from 4.54% in April, the central bank said in a statement on Tuesday.

An estimate for a three-year interval increased by 0.25 percentage points to 5.12%.

“Inflationary pressure stays high for a long time due to transition of higher producer costs to the consumer prices at a time when demand is still recovering,” the regulator said.

The central bank’s hike of the key rate will push inflation down to 4% in July–December 2022 and stabilize there.

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