The Central Bank explained regional differences in inflation rates
Regional peculiarities of inflation are associated with uneven processes of structural reorganization of the economy, which began in 2022. This was told to "Izvestia" by the press service of the Bank of Russia.
The regulator noted that this is due to the geography of the region, the peculiarities of the formation of demand for products, as well as the capabilities for their production and delivery. In particular, inflation is different in the subjects where the bulk of goods arrive as part of the "northern" importation. In addition, there are differences in the structure of consumption of various goods, which are conditioned by culture and traditions.
"At the same time, regional differences in the inflation rate are inconstant. Their scale can change depending on the situation in the economy of the country or individual regions. Recently, the spread of inflation by regions has increased. The main reason - in the unevenness of the processes of structural adjustment of the economy, which began in 2022 and continues now", - specified in the Central Bank.
As explained in the regulator, the historical experience of the Russian Federation shows that the lower and more stable inflation in the country as a whole, the smaller the regional differences. It was from 2017 to 2021, when price growth was about 4%.
"In the current situation, the Bank of Russia is pursuing a tight monetary policy to bring inflation back to the target. According to our forecast, the target will be reached in 2026," the press service specified.
Reaching the target will mean that the economy has found an equilibrium - demand has adjusted to the new supply possibilities, summarized in the Central Bank.
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