Central Bank (CB) rated the inflation rate, which in October accelerated to 8.13 percent in annual terms. This is reported in the report on the dynamics of consumer prices published on the website of the Central Bank.
Despite the acceleration of inflation, the regulator has retained its forecast for the rate of rising prices by the end of 2021 at the level of 7.4-7.9 percent. The Central Bank expects that in 2022, inflation will return to the target indicator and will be 4-4.5 percent. The regulator noted that the most in price in price food due to poor crop and cost growth in the agricultural sector.
In the Central Bank noted that inflationary pressure remains high. The rise in food prices will negatively affect the inflationary expectations of the population. In early November, inflation data presented Rosstat, whose report relies with the Central Bank in its forecasts. According to the statistics service estimates, food inflation accelerated to 10.89 percent in October compared with October 2020.
November 2, the central bank predicted the further rise in prices for products. The regulator expects the low rate of harvesting rates at the cost of food in the first half of 2022. To restrain inflation, the central bank on October 22 sharply increased the key rate by 0.75 percentage points – up to 7.5 percent per annum.