Inflation is slowing down, but the risks of price acceleration remain high
04 march 2026
At its meeting on February 13, 2026, the Bank of Russia lowered its key rate by 50 basis points to 15.5% per annum. In January, inflation slowed to 6.0% y/y. The overall consumer price level increased by 1.6% compared to the previous month. Proinflationary risks continue to prevail over disinflationary ones. Pro-inflationary risks include: the Russian economy deviating upward from its balanced growth trajectory, heightened inflation expectations, a growing budget deficit, and falling oil prices.
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