June 2, 2020 / 12:42 PM / a month ago

Inflation expectations in Russia decline further in May - cenbank

MOSCOW, June 2 (Reuters) - Russian households’ inflation expectations for the month ahead declined further in the second half of May, the central bank said on Tuesday.

Respondents in the poll carried out on May 14-21 noted an increase in food prices, said the central bank, which usually deems food price shocks to be temporary. Respondents also mentioned higher prices for durable goods.

Inflation is in focus as the central bank is expected to slash interest rates later this month to cushion an economic contraction sparked by the coronavirus outbreak and lower prices for oil, Russia’s key export. (Reporting by Andrey Ostroukh; Editing by Alex Richardson)

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