Inflation expectations of the population rose markedly in November – Central Bank

The average level of projected inflation for the next year among the population amounted to 15.3%, having increased by 0.2 percentage points against the October level. A more noticeable increase was shown by the median indicator – now it reaches the June level of 14.1%.

The share of respondents who expect price growth to accelerate has risen sharply to 59%. The most commonly cited figures were between 13% and 16%, while the popularity of options in the 9-12% range has plummeted.

Respondents’ forecasts were influenced more than other factors by fluctuations in the exchange rate – they were noted by 51%, which was a new maximum since March. Also, after the decline in September-October, the concern for fuel and energy costs has noticeably increased (38%).

Expectations of rising food prices, which previously occupied a leading position, have now fallen back to third place in the list of factors (37%). The percentage of those surveyed who named the increase in rent for housing as one of the reasons remained stable (22%).

Entrepreneurs are primarily concerned about the rising cost of fuel, which was indicated as a factor by 50% of respondents.

The share of participants who noted an increase in prices for imported raw materials and components increased significantly – from 21% a month earlier to 32%. There was also a slight increase in the share of expected interruptions in the supply of materials (20%) and rising prices for rental premises.