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Reshetnikov noted that annual inflation in Russia has started to decline.
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- •Maxim Reshetnikov announced that annual inflation in Russia has started to decline after a surge at the beginning of the year.
- •Reshetnikov publicly explained that the early‑year inflation spike was driven by identifiable temporary factors.
- •The Bank of Russia described the January inflation data from Rosstat as "noisy," indicating concerns about short‑term data volatility or measurement issues.
- •Elvira Nabiullina stated that inflationary pressure in Russia has reached or passed its peak.
- •The Center for Strategic Research said that the inflationary impact of the recent VAT increase, referred to as the "VAT factor," has been largely exhausted.
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- ▸If the decline in annual inflation continues over the next several months and underlying price pressures ease The Bank of Russia may gain more room to adjust its key interest rate trajectory, affecting borrowing costs for Russian banks, companies, and households.
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