Work

Inflation and monetary policy in October 2025

Year: 2025

Type: preprint

Abstract: At its meeting on October 24, 2025, the Bank of Russia lowered the key rate by 50 basis points to 16.5% per annum. In October, annual inflation over the past 12 months was 7.7% y/y, the lowest since March 2024. Compared to the previous month, the overall consumer price level increased by 0.5%. Pro-inflationary risks continue to prevail over disinflationary ones. The main pro-inflationary factors include: growth in lending, inflationary expectations and the budget deficit, continued tension in the labor market, lower oil prices, indexation of housing and communal services tariffs and VAT.

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.22237016

Authors: Goryunov, Evgeniy, Trunin, Pavel, Chembulatova, Maria

Institution: Gaidar Institute for Economic Policy

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W7204920175

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