The peak of annual inflation will be achieved in July, and a decrease can occur in September.
According to the Deputy Chairman of the Bank of Russia, Alexei Zabotkin, said that the regulator at the next meeting of the board of directors will discuss the increase in the key rate from 16%to 17%, and maybe even up to 18%, the correspondent of The Moscow Post reports.
According to him, the Bank of Russia still expects to return to the target inflation rate of 4 percent by mid-2025.
Zabotkin noted that high economic growth rates are accompanied in Russia with high inflation and its unwillingness to slow down. Therefore, the country needs a tough monetary policy.
In addition, he emphasized that the gradual strengthening of the ruble course is associated with the effects of the DCP and the sanctions that restrain import.
He associated the peak of annual inflation in July with a significant increase in housing and communal services tariffs.
