In Russia, prices are mainly growing for food. For example, vegetables and fruits have risen in price by 19.4% over the year. At the same time, if we look at the “wide range of goods”, then inflation amounted to a little more than 8%. But this is twice the target price increase. Back in the summer, the specialists of the Central Bank of Russia announced that by the end of the year it would still be possible to achieve the inflation target, but already in November the opinion of the experts changed. About why everything rises in price - in the material. By the end of 2021, inflation in Russia will be slightly more than 8%. This forecast was made by the head of the Central Bank of Russia Elvira Nabiullina. “I think that by the end of the year we will have inflation a little more than 8%, this is a lot, this is more than our target of 4%,” she said in the Vesti program.

The Chairman of the Central Bank explained that 8% is Rosstat's forecast for a "wide range of goods." “The goods that we are monitoring have increased in price, for example, food,” she added.

Nabiullina said that food prices increased by 10.8%. In particular, prices for vegetables and fruits increased by 19.4%. “The prices for cars and building materials went up, but from September prices not only slowed down, but prices began to decline. Prices for services grew below the general rate of growth in prices, ”said the head of the regulator.

According to her, the Bank of Russia has fixed an increase in mortgage rates. But the growth in loans is planned to be less than inflation and the key rate. As for house prices, Nabiullina believes that the growth in property prices should "seriously slow down."

Inflation in Russia has been at elevated levels throughout 2021. In November, it reached 8.4% on an annualized basis, the highest since the beginning of 2016. According to the latest data from the Ministry of Economic Development, as of December 20, the rise in prices in the Russian Federation amounted to 8.22% in annual terms.

In early December, the head of the Ministry of Economic Development Maxim Reshetnikov assumed that in 2021 inflation would exceed the forecasts of the government and the Central Bank and would be closer to 8%, not 7.4% and 7.4-7.9%, respectively. The fact that at the end of the year inflation in the country will reach 8% was announced at the final press conference by Russian President Vladimir Putin.

According to the country's Prime Minister Mikhail Mishustin, inflation in Russia is mostly imported. “The macroeconomic parameters by which governments and other countries live are violated by many countries. [Other states are carrying out] emission, which quite unexpectedly can stimulate consumer demand and come unexpectedly to the country, "the head of the Cabinet said.

He added that the rise in prices is a kind of "payment for the openness of the economy." “And this is a reset, including the global devaluation of national currencies, towards those who are still importing goods,” the head of the Cabinet of Ministers said at a meeting with members of the expert council under the Russian government on December 22.

According to Mishustin, Russian ministers are trying to make systemic decisions in this area, but the situation is unstable. But the authorities have "appropriate answers and strategies." “These are tasks related to import substitution, this is work related to building the potential of our agricultural industry - and this task has been solved for several years. I see that we have great success in self-sufficiency, ”he stressed.

Nevertheless, the Central Bank has not yet managed to reach the 4% target. The regulator's specialists in August of this year expressed the hope that by the end of 2022 Russia will still be able to reach such a level of inflation.

But already in November, the opinion of the experts changed. Polina Kryuchkova, deputy head of the Ministry of Economic Development and Trade, said in a comment to Interfax that due to the uncertainty with world oil and gas prices, there are risks that the 4% target will be achieved only in 2023.

“Now there is a very strong run of assessments. In terms of risks, yes, at the moment pro-inflationary factors dominate the world. Can the trend reverse quickly and unexpectedly? There is also such a risk, so I am not going to talk about the timing of the return to the target, because there is a lot of uncertainty, first of all, with world prices, ”she explained her forecast.

bbabo.Net