Analysts Polled by Russian Central Bank Predict 7.3% Year-End Inflation According to Reuters

Moscow – Analysts surveyed by Russia’s central bank anticipate year-end inflation to reach 7.3%, significantly higher than the 4% target and very close to the 7.4% projection for 2023.

Soaring inflation has compelled the central bank to increase its key interest rate to 18%. The analysts predict that the average key rate for the period from September to December will be around 19%, indicating that another rate hike may occur before the end of the year.