The consumer price index stood at 0.7% in October 2014 (0.2% in September 2013), 0.5 p.p. higher than the value observed in August this year. Therefore, inflation increased to 8.0% on an annualized basis. The consumer price index reached 0.7% within the first 20 days of October. On September 20...

The consumer price index stood at 0.2% in August 2014 (0.1% in August 2013), 0.3 p.p. lower than the value observed in the preceding month. Therefore, inflation stood at 7.6% on an annualized basis. The consumer price index reached 0.5% within the first 22 days in September 2014. Banks' repo...

In 2014, Russia continues to display upward trends in the oil extraction sector and petroleum product exports. In recent months, world prices of oil have been on the decline. Over the period of August-September 2014, the USA, the European Union and some other countries introduced economic...

The consumer price index stood at 0.5% in July 2014 (0.8% in July 2013), down by 0.1 p.p compared to the value observed in June 2014. Therefore, inflation stood at 7.5% on an annualized basis. The consumer price index reached 0.2% within 25 days in August. The Bank of Russia Board of Directors...

In June 2014, the consumer price index stood at 0.6% (0.4% in June 2013), 0.3 p.p slightly below the value observed in May 2014. Therefore, inflation stood at 7.8% at the end of the 12-month period. The consumer price index reached 0.5% within 21 days in July 2014. As of July 1, 2014, banks'...

This paper analyses the evolution of inflation targeting policies in Central European countries. The origins of their inflation targeting strategies are examined, above all the commitment to price stability as well as the inability of prior policy regimes to engender financial stability. Recent...

A monetary policy framework based on targeting a relative inflation-forecast is proposed for the economies converging to the euro. Such strategy aims at containing the differentials between the domestic and the implicit monetary union inflation-forecasts. Hence, these differentials become a...

The consumer price index stood at 0.7% in May 2013 (0.5% in May 2012), showing an increase of 0.2 p.p. vs. April 2013. In June, prices were growing too: the consumer price index reached 0.3% within 20 days of the month, thereby boosting inflation by 7.4% on a year-on-year basis. A downtrend in...

In April 2013 the consumer price index made 0.5% (versus 0.3% in April 2012), which is by 0.2 p.p. higher than in March of this year. In May inflation was also growing: in the 20 days of the month the CPI reached 0.4%. As a result, the inflation rate in annual terms has exceeded 7.2%. In Q1...

To the best of our knowledge, our paper is the first systematic study of the predictive power of monetary aggregates for future inflation for the cross section of New EU Member States. This paper provides stylized facts on monetary versus non-monetary (economic and fiscal) determinants of...