In July, the Central Bank announced an increase in inflation expectations of the population

MOSCOW, July 17 (Reuters) – Inflation expectations of the Russian Federation’s population for the coming year in July 2023 rose to 11.1% from 10.2% in the previous month, the Central Bank of Russia said.

When deciding on the rate, the Board of Directors of the Central Bank takes into account data on inflation expectations.

At its meeting on Friday, July 21, the central bank is expected to raise its key rate to 8.0%, increasing the cost of borrowing for the first time since the crisis in late February 2022, as demand intensifies and with the weakening of the ruble increases the pressure inflation, say analysts polled by Reuters.

According to an InfoM survey, annualized inflation continued to decline in July. Its average score was 13.8% compared to 13.9% in June. (Elena’s Factory)