Nabiullina said the risks of inflation due to supply disruptions through the Strait of Hormuz

Against the background of supply disruptions through the Strait of Hormuz, there are pro-inflationary risks. This was announced on April 16 by the head of the Central Bank of the Russian Federation, Elvira Nabiullina, during the Moscow Stock Exchange Forum.

"Of course, we have pro-inflationary risks. These are the external conditions. We know how many analysts are currently discussing the consequences of possible further supply disruptions through the Strait of Hormuz," she said.

According to the head of the regulator, many countries expect global inflation, and the banks of the countries also envisage a more stringent monetary policy or a slow easing.

Nabiullina called the "budget impulse" another factor for concern of the Russian economy. At the same time, it is currently not significantly weakening, but the situation is being monitored with the Russian government to understand future budget policy.

In the opposite direction: will inflation in Russia decrease due to the war in the Middle East

Price growth has slowed down, and there is a chance that the conflict will slow it down even more noticeably.

On the same day, Nabiullina noted the naivety of the opinion that with a higher inflation target, there would be lower rates. According to her, a prolonged period of high inflation leads to an increase in interest rates and an increase in the cost of financing for the economy and business.

Atif Kubursi, a professor of economics at McMaster University, said on March 18 that the war in the Middle East had become a serious blow to the global economy. According to the expert, this was influenced by the import tariffs imposed by US President Donald Trump and the special operation of the United States and Israel in Iran, which disrupted oil supplies through the Persian Gulf and the Strait of Hormuz.