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According to Alexander Izgorodin, an economist at the Brandnomika communications agency, high inflation reflects a very rapid recovery and a high level of economic activity.
“It just came to our knowledge then. I would take that figure more negatively, because high inflation is always a pre-indicator that someone with the economy may not get by in the future,” the economist told BNS.
According to their estimates, inflation will rise by about 50 percent. The rest of the year was driven by world commodity prices and the rest by domestic factors: labor shortages, low unemployment, and rapid wage growth. According to Izgorodin, annual inflation is expected to decline in autumn.
“We are already seeing some concerns about COVID-19 in the markets, as they have started to rise very rapidly in both Europe and the Americas, and we are seeing oil prices in the markets stabilize and fall slightly,” he said.
“The world peak in commodity prices is past and commodity prices will stabilize or even fall slightly in the fall,” he added.
In July, compared to June, it was 0.7 percent. monthly inflation. The prices of consumer goods and services are rising for the seventh consecutive month.
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