Households’ inflation expectations continue to decrease in second half of May

Source: Central Bank of the Russian Federation in English

2 June 2020

According to the findings of the Bank of Russia-commissioned telephone survey of households carried out by InFOM on 14–21 May, inflation expectations for the next month continued to go down. Increasingly fewer respondents expect a high rise in prices.

The percentage of respondents who noticed no increase in prices for any products or services continued to grow. However, over one-half of respondents still complained about the persisting price growth. As before, respondents noted that prices for non-perishable products, fruit and vegetables, meat and milk products increased the most. This said, the frequency of mentioning these product groups significantly dropped.
According to the survey, increasingly more individuals complain about their deteriorating financial standing as the effects of the anti-coronavirus restrictions accumulate. Nonetheless, the estimates of financial standing in the near future continued to gradually trend upwards.
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