Source: Central Bank of the Russian Federation in English
Economic activity continued to expand in the fourth quarter. A pause in the third quarter gave way to accelerated growth in investment demand.
Support also comes from expanding external demand for core Russian exports. At the same time, there are signs of an emerging slowdown in consumer demand including on the back of a declining impact of retail lending. These findings are presented in the new issue of the macroeconomic bulletin Talking Trends, prepared by the Bank of Russia Research and Forecasting Department.
Inflation is persistently high in the context of expanding demand, with supply lagging behind owing to sustainable and short-lived factors that hold back output growth and push up producer costs. The current monetary policy stance will help slow down inflation to 4-4.5% in 2022.
Preview photo: Sergey Savostyanov / TASS