Central Bank called weekly inflation data “very noisy”

by time news

It is impossible to judge stable trends on the basis of data on weekly inflation, since they are “very noisy”, the press service of the Bank of Russia told reporters.

“The weekly data on inflation is very noisy, therefore, on their basis, one cannot speak of stable trends. It will be possible to judge which factors influenced the September inflation more strongly – temporary or permanent, only when more complete information on prices becomes available, ”they said.

Earlier today, Rosstat reported that consumer prices in Russia rose 0.29% from 21 to 27 September. This value has become a record one since the beginning of July. So, from June 29 to July 5, weekly inflation amounted to 0.46%, after which it slowed down.

At the same time, the Ministry of Economic Development reported that by September 27, inflation in Russia amounted to 7.26% in annual terms. Food products rose in price by 9.41%, and non-food products – by 7.85%. The cost of services increased by 4.26%.

The ministry forecasts inflation at the end of the year at 5.8%. The Central Bank expects it to be in the range of 5.7-6.2%. At the same time, the head of the Ministry of Economic Development, Maxim Reshetnikov, earlier said about the risks that, as a result, the indicator will be at a level higher than the forecast.

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