
Inflationary expectations of the population in June increased by 0.6 percentage points compared to May and reached 11.9%, follows from the data of the Central Bank of the Russian Federation.
"The median estimate of inflation expected in the next 12 months was 11.9% (+0.6 p.p. against May). Inflation observed by the population in June remained almost unchanged. Its median estimate was 14.9% (+0.1 p.p. . p.)," the regulator reports.
According to the monitoring conducted by the Bank of RUSSIA in June 2021, the price expectations of enterprises for the three months ahead continued to grow, remaining above the local highs of 2019-2020. The average expected price growth rate in the next three months was 4.1% in annual terms (in June 2020 - 2.1%).
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According to the forecast of the Bank of Russia, taking into account the ongoing monetary policy, annual inflation will return to the target near 4% in the second half of 2022 and will remain at this level in the future.