Central Bank Estimates October Inflation at Approximately 7%

Central Bank Estimates October Annual Inflation at Approximately 7%

Russia's annual inflation in October, estimated by the Bank of Russia based on weekly data, was close to 7%. This is stated in the Central Bank's material on monetary conditions.

Newsroom golos.media11 November 2026 at 19:01updated 11 November 2026 at 19:451 min read

According to calculations based on Rosstat data, by November 2, annual inflation decreased to 6.95% from 7.11% a week earlier; at the end of September, it was 6.35%, writes Kommersant. The Central Bank's estimate for October was close to 7%; weekly estimates and the Central Bank's estimate reflect price dynamics over different periods.

In its material on monetary conditions, the regulator reported that in the third quarter, current price growth, seasonally adjusted, accelerated to 8% year-on-year after 4.8% in the second quarter. This indicator characterizes the rate of price change over a short period, annualized, rather than accumulated inflation for the year.

Forecast and Utility Tariffs

The Bank of Russia raised its inflation forecast for 2026 to 7.1–7.6% from the previous 6–7%. The regulator, according to the same material, expects to achieve its 4% target in 2027.

In the summary of the key rate discussion, the Central Bank also indicated that the October indexation of utility tariffs was higher than expected. Its contribution to inflation can be assessed after receiving full monthly data.