Central bank expects further inflation growth after 3.1% in April
MOSCOW, May 19 (PRIME) -- The Russian central bank expects further growth of annual inflation after acceleration in April to 3.1%, the authority said in a report late on Monday.
"Acceleration of annual inflation was registered in the majority of regions (81 out of 82) in April 2020. The annual rate of food and non-food goods price rise sped up in general, while the service price dynamics was most heterogenic," the authority said.
"Increase of annual inflation is possible in the future, including due to a low base effect of summer-autumn 2019. At the same time, as the short-term pro-inflation factors fade, the disinflationary influence of lower domestic and foreign demand due to the restrictive measures to fight the coronavirus epidemic will become the predominant factor," the central bank said.
The authority forecasts 2020 inflation at 3.8–4.8% and inflation after 2020 close to 4%.