Bank of Russia lifts 2026 inflation forecast to 7.1–7.6%
The Central Bank of Russia kept its interest rate at 14% and raised its 2026 inflation forecast to 7.1–7.6%. Annual inflation stood at 6.8% as of 19 October, the regulator said.
The Central Bank of Russia kept its key interest rate at 14% and raised its 2026 inflation forecast to 7.1–7.6%.
Annual inflation in Russia stood at 6.8% as of 19 October. The regulator expects it to rise by the end of the year.
Motor fuel drives price growth
The Bank of Russia said the acceleration in inflation was primarily driven by higher motor fuel prices.
In the third quarter of 2026, current seasonally adjusted price growth averaged 8.0% on an annualised basis, up from 4.8% in the second quarter. Core inflation rose from 4.5% to 6.2% over the same period.
The regulator expects inflation to reach 4% in 2027.
In July, the Bank of Russia had already raised its 2026 inflation forecast from 4.5–5.5% to 6.0–7.0%. It also revised its 2026 GDP growth forecast from 0.5–1.5% to 0–1%.
What we know
- The Bank of Russia raised its 2026 inflation forecast to 7.1–7.6%.
- The key interest rate was kept at 14%.
- Annual inflation stood at 6.8% as of 19 October.
- Seasonally adjusted annualised price growth accelerated to 8.0% in the third quarter.
Trust: Single source
- The story relies on one publisher. A second independent confirmation has not been established from the cited sources.
- Sources: Українська правда.
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