Central bank analysts say pro-inflationary risks gradually increase

MOSCOW, Jan 31 (PRIME) -- The pro-inflationary trend in Russia is gradually increasing, possible recovery of consumer activity and weakening of the ruble carry pro-inflationary risks, the research and forecast department of the central bank said on Tuesday.

"An upward trend of the aforementioned figures of stable price pressure (the median price rise and the core inflation) has started to form. An increase of consumer demand in the sector of paid services, accompanied by an increased (seasonally adjusted) price growth for paid services over the last few months also points to this," the department said.

At the same time, an elevated norm of savings and a cautious consumer behavior limit the price rise. The limits imposed on non-secured consumer lending will also limit the risks.

According to the department, Russians' real wages returned to the level of the end of 2021 at the end of 2022, as unemployment decreased, and there was a growing lack of workers in some industries.

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