The Russians did not notice the slowing of inflation

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Россияне не заметили замедления роста инфляции

The decline in consumer price growth to 2.7 percent from 3 percent in September 2017 unnoticed for most consumers. Thus slowed and core inflation, calculated excluding prices for seasonal products and rates, from 2.8% to 2.5%. This is reported by “Vedomosti”.

As the newspaper notes, the inflation expectations of the Russians in recent months have increased to 9.9%. Earlier this indicator was at the level of 9.6% and 9.5%. According to the study “Old”, made by order of the Central Bank, consumers were not ready to believe the record low level of inflation, expecting a sharp rise in price growth.

According to the Institute for social analysis and prediction Ranepa, Rosstat in the calculation of inflation captures the change in prices for the cheapest goods from one group. It doesn’t account for the actual consumption of Russians is different from the “average”.

Interlocutors of the edition noted that high inflation expectations of Russians linked to the prices for luxury goods that Rosstat does not take into account in their calculations.

Earlier, Vedomosti wrote that inflation in Russia has slowed “to a historic low”. The figure of 2.7% was below expectations, the Central Bank, who had expected annual inflation to 4%.

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