Germany retains top spot in Europe real GDP gains, but momentum fading
3 hours ago
Inflationary expectations of Russians for the next 12 months remained at all-time low increasing only by 10bp to 9.6% in September, according to the monthly poll held by the Central Bank of Russia (CBR).
Inflationary expectations are in the focus of the cautious regulator that recently has resumed the monetary easing cycle, but still wants to see expectations converge to the actual inflation it succeeded in curbing to little over 3%.
“The favourable pricing dynamics and the absence of a jump in prices at markets of some goods and services led to a decrease of responses that noted a rapid hike of prices," the CBR commented on September survey.
Respondents mention less the significant growth of prices for public utility services, for fruit and vegetables, for gasoline, and food basket essentials such as sugar, salt, bread, chicken eggs, cereals, and noodles, according to the survey.
However, the number of people who actually believe that current inflation is close to 4% remains low, with the majority of respondents "still not sure of it," which points to persisting risks of inflationary expectations keeping high, the CBR said.
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