In everything that concerns monetary policy in Russia, nothing has changed. We remain steadfast in bringing inflation back to the target, in ensuring price stability – this is what society has entrusted us with, Tremasov told the Sputnik news agency.

The expert also indicated that the country’s annual inflation rate will peak in April-May.

Inflation usually refers to the growth of prices over the last 12 months: it is a measure of annual inflation. Recall that last year the rate of price growth was low until May. In May last year, the current rate of price growth began to accelerate, he commented.

According to Tremasov, as for the annual figure, it will increase as long as the current rate of price growth is higher than that of last year.

In early February, the Central Bank indicated that the monetary tightening achieved constitutes the necessary preconditions for resuming the disinflation process and returning inflation to the four percent target in 2026.

However, this will require a longer period of maintaining tight monetary conditions in the economy than anticipated in October.

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