In September inflationary pressure adjusted for temporary and one-off factors remained close to 4%. At the same time, monthly price growth slowed down significantly due to disinflationary factors.
Economic activity kept rebounding towards its pre-pandemic levels, but at slower pace than in August. The latter is mainly explained by the revival of the active phase of recovery in demand for consumer goods along with weaker recovery in investment demand-oriented industries and uneven dynamics in export-oriented industries. For more detailed information see the new issue of the bulletin Talking Trends prepared by the Bank of Russia’s Research and Forecasting Department.