Pandemic COVID-19 has significantly shifted macroeconomic balances worldwide, so give some exact forecasts regarding inflation early. This was done at the International Export Forum “Made in Russia” said the first deputy prime minister of Russia Andrei Belousov, reports TASS.
The official warned that after the second wave, which currently goes, can follow a new one, third. It will most likely emerge, in the second half of 2022 and will again be associated with food.
According to him, inflation waves show how unstable the situation in the global economy and how much the whole situation is far from balance.
According to Rosstat, in November 2021, inflation in the country accelerated to 8.4 percent in annual terms. This is a maximum for almost six years, the last time the rise in prices was in January 2016. At the same time, food inflation, which includes alcoholic beverages, is still almost 1.3 times higher – 10.81 percent.
In October, the Central Bank raised a key rate to 7.5 percent per annum and dramatically changed inflation forecast this year – up to 7.4-7.9 percent at Target 4 percent. This week, the head of the Elvira Nabiullin regulator recognized that the rise in prices can be released for this mark. At the same time, the Bank of Russia’s deputy chairman Alexei Kakotkin, unlike Belousov, believes that in 2022, inflation to December will be close to Target, in the region of 4-4.5 percent.
Russian President Vladimir Putin earlier noted that the rise in prices in the country is associated with the actions of the largest economies of the world, namely with their mild monetary policy. Then he called on to return the rise in prices to 4 percent for the year already in 2022.