Annual inflation in Russia may reach 6.3% by the end of September, according to a commentary on the Bank of Russia's medium-term macroeconomic forecast published on the regulator's website on August 5.
The commentary notes that in the third quarter, price growth with seasonal adjustment, annualized, is expected to accelerate to 7.0%. For comparison, in the second quarter this indicator stood at 5.0%.
The Bank of Russia had previously revised its inflation forecast for 2026. In July, the regulator raised its expected price growth range to 6.0–7.0% from the previous 4.5–5.5%.
The central bank notes that inflation dynamics will depend on a number of factors, including the state of domestic demand, economic growth rates, and the impact of monetary policy.
On the same day, the regulator also reported changes in the structure of Russians' savings in 2026. Savings activity in Russia in May–June declined slightly but remained at a high level. At the same time, Russians have begun to allocate their savings differently, increasing investments in real estate, financial instruments, and cash.