Russian household inflation expectations fall to 12.9% in April, back to March 2025 level - Central Bank survey

MOSCOW. April 16 (Interfax) - Russian household inflation expectations fell to 12.9% in April 2026, returning to their March 2025 level, according to an inFOM survey for the Central Bank of Russia.

Household inflation expectations rose to 13.4% in March, back to their May 2025 level. They had fallen to 13.1% in February from 13.7% in January 2026.

Observed inflation fell to 14.6% in April, almost back to its February 2026 level, after rising sharply to 15.6% in March. Observed inflation had been unchanged for four consecutive months, at 14.5% from November 2025 to February 2026.

The latest survey was conducted from March 31 to April 10.

Inflation expectations among respondents without savings have fallen to 14.3% in April from 14.4% in March, while among respondents with savings they have fallen to 11.4% from 12.3%.

Observed inflation among respondents without savings has fallen to 15.8% from 16.3%, while among respondents with savings it has fallen to 13.4% from 14.8%.

Household and business inflation expectations are key factors in the Central Bank's monetary-policy decision making. The regulator's next rate-setting meeting takes place on April 24.

Russian business price expectations are little changed in April and are just below their 2025 and Q1 2026 average, the Central Bank has said.