Russian Inflation Trends Downward

Elvira Nabiullina, the Governor of the Russian Central Bank, announced on Friday that inflation is projected to begin its descent starting in May. This statement came after the bank decided to maintain its key interest rate at 21%.

Cautious Optimism Amidst Economic Pressures

Nabiullina, speaking in Moscow, emphasized that while inflationary pressures are easing, the bank remains cautious. "We have surpassed the peak in the fourth quarter," she stated, "but the pivotal moment leading to a decrease in annual inflation is anticipated in May." She also warned of a potential temporary increase in July.