The Central Bank called the increase in gasoline prices a temporary factor
The Central Bank of Russia does not consider the increase in gasoline prices as a stable or inflation-influencing factor. This was announced on October 9 by the head of the Central Bank of the Russian Federation, Elvira Nabiullina, at the Finopolis-2025 forum.
"This is a temporary factor, and on the supply side. We believe that the measures that the Government is taking should lead to a stabilization of the situation in this market. But we also do not consider the increase in gasoline prices as a source of sustained inflation, because this is a temporary factor," TASS quoted her as saying.
Nabiullina clarified that rising gasoline prices may slow down the decline in inflation expectations. At the moment, they remain elevated and also affect the key rate.
Russian Deputy Prime Minister Alexander Novak said on the same day that the situation on the fuel market in Russia is stable and at the moment the country is working on measures necessary for its improvement. It was clarified that as part of the execution of Novak's instructions, a model for monitoring the cost of gasoline was developed.
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