The Central Bank will strive to return inflation to the target near 4%.

13:50; 12 December 2025 year

On December 12, the Central Bank reported a decrease in annual inflation in November to 6.6%. In October, it stood at 7.7%. Despite the encouraging trend, the regulator maintains a cautious stance. Although the indicators of sustainable inflation decreased in November, they still exceed 4% on average over the three months (September-November) for most categories. This indicates the continued inflationary pressure in the economy. Therefore, the Bank of Russia confirms its readiness to maintain tight monetary and credit conditions for as long as it takes to fully return inflation to the target level near 4%. Future decisions on the key rate will directly depend on the sustainability of the downward trend and the dynamics of inflation expectations among the population and businesses. The official forecast of the Central Bank, updated in October, assumes that annual inflation will decrease to 4.0-5.0% by 2026 and stabilize at the target level from 2027 onwards.

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