Analysts raise Russia’s 2026 inflation forecast to 7.1%
In the Bank of Russia’s October survey of 32 economists, inflation projections rose while the 2026 growth forecast stood at 0.6%.
Event / data period: 2026-10-13
Published: · Updated:
Economists in the Bank of Russia’s 9–13 October survey raised their December-to-December inflation forecast for 2026 to 7.1%, up 0.5 percentage points from the September survey. They lifted projections to 5.0% for 2027 and 4.2% for 2028, and expect inflation to return to target in 2029.
The survey’s 32 participants projected 2026 economic growth of 0.6%, a 0.1-point increase from the previous round; the 2027 growth forecast remained at 1.2%. The Bank said the results are medians of economists’ forecasts and that forecast ranges narrowed for most indicators.
Data
October macroeconomic survey
Published median projections from the Bank of Russia’s October 2026 survey.
- · Occurred
Survey period ended
Median 2026 inflation forecast: 7.1%, up 0.5 points from September. 2026 growth forecast: 0.6%.
Methodology
The survey ran 9–13 October and uses the median forecasts of 32 economists. Comparisons are the September-survey changes shown on the Bank’s page.
Updated:
Analyst survey forecasts
Median projections from 32 economists surveyed on 9–13 October 2026.
| Inflation forecast | 7.1 | percent | 2026 forecast | forecast |
| Inflation forecast | 5 | percent | 2027 forecast | forecast |
| Inflation forecast | 4.2 | percent | 2028 forecast | forecast |
| Inflation forecast | 4 | percent | 2029 forecast | forecast |
| GDP growth forecast | 0.6 | percent | 2026 forecast | forecast |
| GDP growth forecast | 1.2 | percent | 2027 forecast | forecast |
Methodology
Values are the medians of survey participants’ forecasts, not outcomes or the Bank of Russia’s own forecast. Inflation is December-to-December; GDP is annual growth.
Updated:
Subjects and places
Subject proposals
- InflationSuggested
- Subject suggested from the title or summary: inflationwww.cbr.ru ↗www.cbr.ru ↗
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- Russia · Place role: Coverage · Place type: Country or area · Location precision: RegionalEvidence
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