“In April-May, the situation in the Russian economy was better than expected in the April forecast of the Bank of Russia.
After a sharp deterioration in March, the economy has significantly slowed down the negative dynamics.
A significant strengthening of the ruble, combined with a decrease in consumer activity and inflationary expectations, led to a rapid slowdown in consumer price growth in April-May, which, however, is premature to consider sustainable, ”the analysts write.
They added that "as one-time disinflationary factors wear off, price increases may pick up again."
Further dynamics of consumer prices in the short term will be determined by the volume of supply of consumer goods, the dynamics of the exchange rate, consumer lending, wages and incomes, inflationary expectations, as well as changes in the propensity to consume households.
Earlier, the Ministry of Economic Development reported a slowdown in inflation in Russia to 17.35%.