OREANDA-NEWS  The process of normalizing the pace of price growth in Russia may proceed gradually. Zoya Kuzmina, economic adviser to the Monetary Policy Department of the Bank of Russia, saw the slowdown in inflation, as quoted by Interfax.

According to the representative of the regulator, operational data indicate signs of normalization of the rate of price growth.

"Even now, however, in the weekly operational data (it should be noted that this is still operational data), we can say that the peak clearly occurred in early January, followed by a slowdown in the second half of January and February. According to the weekly data, the price growth rate has returned to normal," Kuzmina explained.

Despite the fact that price growth is gradually slowing down, it is impossible to exclude factors that may spread the dynamics of inflation. Therefore, it is too early to assess the impact of the VAT increase on the cost of goods. The current state of inflation against the background of the recent decision to lower the key rate meets the expectations of the regulator, the representative of the Central Bank added.

As noted earlier in inFOM, in February, Russians' inflation expectations decreased for the first time in four months, from January's 13.7 percent to 13.1 percent. The last time they were lower (12.6 percent) was in October. The decrease is observed in both categories — among citizens with savings (from 12 to 11.5 percent) and among citizens without savings (from 15.2 to 12.2 percent).