Russia's Central Bank sees no deflation risks

Russia's Central Bank sees no deflation risks

Russia's Central Bank Chair Elvira Nabiullina said that she sees no deflation risks in Russia.

According to her, the central bank sees no deflation risks, but inflation expectations are yet to match the central bank’s 4% target, they are volatile and react to both internal and external factors.

"We are not so much worried by the level of inflationary expectiation, but by the fact that they are not anchored and can react to various external and internal phenomena," Prime agency cited Nabiullina as saying.

Russia’s consumer price inflation fell to an all-time low of 2.5% in 2017. The central bank expects consumer prices to grow 3.5-4% in 2018, but households’ December inflationary expectations for the next 12 months amounted to 8.7%.

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