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Head of Section, Research and Forecasting Department of the Bank of Russia
People’s inflation expectations are often based on the dynamics of prices for certain goods and services called “visible items”. For Russians, these visible items include durables such as cars and clothes, and also petrol, housing maintenance and public transport fares.
With inflation expectations anchored, price spikes do not spread between market segments, and inflation returns to the target level. We have assessed that the expectations of Russian economists have been anchored since 2017, while those of households have not yet been anchored.
