According to the results of the survey in August, inflation expectations of the population were 15.3%, and those of businesses were 14.1%. What is expected to increase in price in the future?
The Central Bank announced the review of inflation expectations of the population and business entities for August.
According to it, the population’s inflation expectations decreased by 1% compared to July and amounted to 15.3%.
The population believes that the following factors will affect future price increases:
• rising prices of imported goods and basic food products (48%);
• artificial increase of prices (37%);
• exchange rate fluctuations (35%).
In addition, factors such as the increase in the price of fuel and energy resources (34%), the increase in wages and benefits (31%), the increase in the cost of accommodation and rent (15%), and the high difference between prices in supermarkets and markets (11%) also had a significant impact on the population’s inflationary expectations.
Inflationary expectations of business entities
According to the results of August, the expectations of the respondent business entities regarding price growth for the next 12 months amounted to 14.1% and decreased by 1.1% compared to the previous month.
Business representatives believe that the following factors will affect the price increase:
• exchange rate fluctuations (33%);
• price increase of fuel products and transport services (29%);
• increase in wages and benefits (24%).
Also, the share of entrepreneurs who expect interruptions in the supply of raw materials from abroad and the presence of tariff and notary restrictions on imports has decreased compared to last month. The decrease in concerns of business representatives regarding the above factors is explained by the fact that new supply chains are being established and the competitive environment in the economy is improving.
