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Inflation and Monetary Policy

Author

Listed:
  • Natalia Luksha

    (Gaidar Institute for Economic Policy)

Abstract

The effect of September indexation of housing and public utilities prices began to subside, leading to a slowdown of inflation in October: as per the month results, the CPI equaled the same period of the last year and amounted to 0.5%. In November, the growth rate of consumer prices remained unchanged and on November 19 amounted to 0.3%. As a result, the cumulative inflation since the beginning of the year on that date amounted to 6% (against the relevant indicator of 5.6% last year). Thus, as per the year results, inflation is likely to be within the projected value, the upper level of which is 7%. According to tentative estimates of the RF Central Bank, the net capital outflow from the country within ten months of the current year reached $61bn (vs. $60bn the relevant period of 2011).

Suggested Citation

  • Natalia Luksha, 2012. "Inflation and Monetary Policy," Russian Economic Developments, Gaidar Institute for Economic Policy, issue 12, pages 11-15, November.
  • Handle: RePEc:gai:recdev:33
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    More about this item

    Keywords

    Inflation; Monetary Policy;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy

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