May 19, 2020 / 9:51 AM / 10 days ago

Inflation expectations in Russia decline in early May -cenbank

MOSCOW, May 19 (Reuters) - Russian households’ inflation expectations for the month ahead declined in the first week of May, the central bank said on Tuesday.

Respondents in the poll carried out between April 30 and May 7 noted an increase in food prices, said the central bank, which usually deems food price shocks to be temporary.

The central bank is widely expected to slash interest rates next month to cushion an economic contraction sparked by the coronavirus outbreak and lower prices for oil, Russia’s key export. (Reporting by Andrey Ostroukh; Editing by Catherine Evans)

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