The Russian economy: Inflationary development factors

Abstract

Subject. This article examines the trends and factors in the development of inflationary processes in Russia from 1990 to the present. Objectives. The article aims to substantiate the factors identified on the basis of the criterion of effectiveness of monetary policy measures of the Bank of Russia in the medium term and influencing inflationary processes in different periods of development of the Russian economy. Methods. For the study, we used statistical and comparative analyses, and the graphical method. Results. The article finds that a fairly large number of both internal and external factors influence the dynamics of inflationary processes in Russia, in particular, non-monetary factors. Conclusions. The study of factors in the development of inflationary processes based on the criterion of the effectiveness of the Bank of Russia's monetary policy measures in the medium term is of particular importance for the Russian economy, as it contributes to determining the principal areas for inflation declining. Understanding the nature of inflation and determining the factors of its growth can help solve current problems in this area through a more deliberate approach.