Experts predicted the inflation rate in Russia by the end of 2021. This is reported by Izvestia.
The maximum forecast was given by VTB experts. In their opinion, the cost of goods and services may increase by 5.3 percent. Otkrytie has the lowest expectations. Bank analysts admitted that prices could rise by 4.3 percent.
Experts argue that inflation dynamics will largely be determined by the level of external food prices in dollar terms. “Already in the summer we will be able to observe a sharp slowdown in price growth, provided that the ruble remains close to the observed levels,” said Maxim Petronevich, a senior economist at Otkritie.
The specialists noted that the slowdown in inflation will be influenced by the measures of the Central Bank on monetary policy. It is also clarified that the acceleration of inflation will contribute to the recovery of consumer activity. “In favor of maintaining high inflation, the rise in prices for food and raw materials on world exchanges, interruptions in supply chains due to the pandemic, as well as the prolonged effect of transferring the weakening of the ruble in 2020 to prices,” explained Mikhail Vasilyev, chief analyst at Sovcombank.
Earlier, Bloomberg noted that the Russian economy, which suffered significantly less than others during the pandemic, is recovering from the coronavirus recession. Experts note that this is due to the decision of the Russian authorities not to reintroduce a nationwide quarantine. It is also emphasized that the relatively soft restrictions during the pandemic contributed to the fact that the epidemic did not hit Russia’s GDP so hard.
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source https://pledgetimes.com/experts-predicted-the-inflation-rate-in-russia-by-the-end-of-the-year/
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