The Bank of Russia intends to return inflation to 4% in 2026 and keep it close to this level in the future. This is stated in the message of the regulator.
In May 2025, according to Rosstat, consumer prices increased by 0.43% (in April 2025 — by 0.4%). Seasonally adjusted, the annual price increase was 4.5%. Annual inflation dropped to 9.88%.
The indicators of steady price growth varied in different directions. Most of them were near 4% or slightly higher, and the range of values decreased. The dynamics of prices remains heterogeneous in terms of groups of goods and services.
The growth rate of prices for passenger transport services has slowed down. Vegetables and fruits have become cheaper. At the same time, the growth rate of prices for foreign tourism services has accelerated. Sanatorium and wellness services became more expensive than usual.
The Bank of Russia will maintain such tight monetary conditions as are necessary to bring inflation back to its target in 2026. This means a prolonged period of tight monetary policy. Further decisions on the key rate will be made depending on the speed and sustainability of the decline in inflation and inflation expectations.
