Russia’s central bank governor, Elvira Nabiullina, said that inflation in the country is decelerating more rapidly than anticipated, citing signs of easing labor shortages.
The central bank expects annual inflation in 2025 to range between 7% and 8%, with a stronger likelihood it will land at the lower end of that range. Still, this remains well above its official 4% target.
Inflation data for June showed a decline in the annual rate from 9.9% in May to 9.4% in June. The bank expects inflation to return to target by 2026.
Source: (Al-Sharq Al-Awsat Newspaper, Edited)