Talking Trends: economic growth and inflation normalise
12 March 2026
News
In early 2026, economic activity slowed down, returning to a balanced growth path. Time is needed for households and businesses to finish adapting to the changes in taxes and regulation. Following this, economic activity is expected to rebound.
The January surge in inflation caused by the increase in VAT and other taxes and duties was transitory. In February, growth of consumer prices decelerated. To ensure a sustained return of inflation to the target of close to 4%, the Bank of Russia should maintain tight monetary policy for an extended period.
More details are presented in Talking Trends, a Bank of Russia bulletin.
Preview photo: Igor Onuchin / TASS