MOSCOW, August 15 (RIA Novosti commentator Peter Lavelle). Stemming the growth of inflation will be the Russian Central Bank's top priority next year with a target rate set at 7%-8.5%, according to a number of Moscow-based market analysts.
With 12-month trailing inflation in July of 12.9%, it is no surprise the CBR has decided to focus on curtailing inflation moving forward. The CBR's monetary policy this year demonstrates just how difficult it is to control inflation and limit ruble appreciation. Increased focus on inflation next year will most likely cause slight ruble appreciation.
Market consensus predicts full-year inflation at 10.2% to 11%.
