Nabiullina put low inflation in merit Centralail

Inflation in Russia at the end of last year turned out to be almost a third below the one that could be without increasing the key rate on which the Central Bank went. This was announced during the discussion at the Gaidar Forum, the head of the Elvira Nabiullin regulator, RIA Novosti reports.

According to her, the merit of the Central Bank has become an operational reaction to the rise in prices throughout the year. If the moment was missed for changing the bet, then inflation could significantly accelerate, so as a result, it would have to raise a bet much stronger.

According to Rosstat, for the year prices in the country rose by 8.39 percent. The key rate, in turn, rose twice – from 4.25 percent to 8.5 percent. Nabiullina is confident that with other actions of the regulator, the rise in prices could be higher by four percentage points, that is, to reach 12.4 percent. At the same time, she stressed that the specificity of monetary policy does not allow instantly to suppress inflation, it always acts with some lag.

On the same forum, the Minister of Finance of Russia Anton Siluanov said that the government intends to solve problems associated with price increases by the end of this year. At the same time, he stressed that in many respects, current inflation is out of the zone of the Russian authorities, as it is associated with a number of foreign states a number of foreign countries and is a global problem.

During the whole year, the Central Bank issued erroneous forecasts for inflation. As a result, in the law on the budget, the indexation of pensions was calculated, based on the level of 5.9 percent. In this regard, Russian President Vladimir Putin instructed to make changes to the budget so that the increase in pensions amounted to 8.6 percent.

/Media reports.