Bank interest rates on deposits and loans rose much higher than the central bank's key rate, causing a slowdown in lending activity.
Russia's inflation has reached 9.5% this year, according to new weekly data showing that the consumer price index rose by 0.33% in the week leading up to Dec. 23, the statistical agency Rosstat reported on Wednesday.
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Federal Reserve leaders are unified in their resolve to quash the worst bout of inflation in four decades. They just no longer agree on how high to keep U.S. interest rates to achieve their goal.
The Federal Reserve’s preferred inflation gauge moved slightly higher in November — but not as much as economists were expecting, an indication that price hikes aren’t accelerating in a worrisome fashion.
Inflation in the U.S. showed signs of cooling in November as price increases slowed sharply after two months of gains.
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The report comes two days after the Federal Reserve moved up its 2025 inflation projection and moved down its 2025 rate cut forecast, concerning Wall Street.
Brazil economists raised their forecasts for inflation and borrowing costs in 2025 after central bankers reinforced their commitment to extend jumbo interest rate hikes into early next year.
Inflation reaccelerated in November by the measure preferred by policymakers at the Federal Reserve, but not as much as forecasters had expected.
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Mexico’s annual inflation slowed slightly less than expected in early December as the central bank extends its interest rate cuts.