Talking Trends: inflation decline ongoing
2 September 2025
News
Seasonally adjusted prices grew moderately in July—August, but for a one-time uptick due to the indexation of utility rates.
With demand growing slower, there are fewer signs of an overheating economy. Consumer activity saw a recovery, helped by growing real household incomes.
To anchor inflation on the 4% path, sufficiently tight monetary conditions need to be maintained.
More details are presented in Talking Trends, a Bank of Russia bulletin.
Preview photo: Andrey Tolkachev / Shutterstock / Fotodom