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Friday, September 22, 2017

The Central Bank: if you do not think about inflation — it will not

The Director of the Department of studies and forecasting of the Bank of Russia Alexander Morozov made in the popular genre vloga — video blog — at the youtube channel of the Central Bank. He explained why inflation in Russia is low, although this one does not believe, and said that if you do not think about inflation, it will not grow.

photo: Dmitry Katerinov

According to Morozov, the inflation in the country has almost reached its Central Bank target of 4%, but his friends don’t believe it. According to the economist, this is due to the heavy memories of the crisis of 2014-2015, which we carry today.

In addition, he acknowledged that prices at the most popular products — from milk to petrol have increased by more than 4%, however, asked to consider what other goods and services, on the contrary, can even slightly cheaper. As an example, frost cited the fact that the price of hairdressing services, which it uses for 2 years have not increased, and prices for curtain cleaning even decreased.

Asked Morozov to believe Rosstat, as he said inflation for 700 parameters, including spending even on foreign tours — “the fact that few of us can afford”. Thus, average inflation, concluded the economist, in fact, aspire to 4%.

At the end of his vloga employee of the Central Bank noted that high inflation expectations, by themselves, generate inflation, and assured that if you do not wait for inflation, and it will not occur.


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