CBRT signals limited impact from October inflation rise

The central bank stated that monthly consumer price increases could accelerate in October due to rising food and energy costs, but the impact on the underlying trend of inflation is expected to remain limited. The statement emphasized that recent inflation figures and leading indicators continue to support a decline in underlying inflation despite monthly fluctuations.

The CBRT noted that higher fresh fruit and vegetable prices have been pushing food inflation upward, while rising global energy prices driven by geopolitical developments could continue to increase the costs of gasoline, bottled gas, and solid fuels. Services inflation is expected to rise compared with the previous month, while core goods inflation is projected to remain moderate. The central bank also indicated that its core inflation measures, the B and C indices, are expected to record more limited increases, reinforcing its assessment that the underlying inflation trend remains on a downward path.