MOSCOW (Reuters) – Inflationary expectations among Russian households, an important indicator tracked by authorities, eased in January to 13.7% from 14.8% a month earlier, central bank data showed on Wednesday.
“A sustained reduction in inflationary expectations is not yet being seen,” the bank said in a report. “They continue to exert significant upward pressure on consumer demand and price dynamics. The Bank of Russia takes this into account in its monetary policy decisions.”
Annual inflation in Russia has accelerated to its highest level since early 2016, well above the central bank’s 4% target. Analysts polled by Reuters expect the bank to raise its key interest rate by 100 basis points to 9.5% on Feb. 11.
(Reporting by Andrey Ostroukh; Writing by Alexander Marrow; Editing by Kevin Liffey)
