Head of the Bank of Russia Nabiullina: inflation in Russia by the end of 2021 will be slightly more than 8%
Elvira Nabiullina. Photo: Evgenia Novozhenina / Reuters
Bank of Russia Governor Elvira Nabiullina spoke about the inflation rate in the country at the end of the year. It will be slightly more than eight percent, Nabiullina said in an interview with the Russia 1 TV channel.
Nabiullina predicted that the inflation rate by the end of 2021 will exceed eight percent. “This is a lot, this is more than our target of four percent,” the head of the regulator emphasized.
According to Nabiullina, food prices increased by 10.8 percent, and vegetables and fruits – by 19.4 percent.
“The prices for cars and building materials went up, but from September prices not only slowed down, but prices began to decline. Prices for services grew below the general rate of price growth, ”she said.
Prior to this, the head of the Bank of Russia noted that annual inflation in December will be less than November, but its steady slowdown will be observed in early 2022. According to the current forecast of the regulator, inflation by the end of 2021 will reach 7.4-7.9 percent.
Earlier, ex-Deputy Minister of Agriculture Leonid Kholod predicted changes in food prices in 2022. The main prerequisite for this, he called hyperinflation, which cannot last forever.
