MOSCOW: Consumer inflation in Russia will slightly exceed 8% in 2021, Central Bank Governor Elvira Nabiullina said in comments to the Rossiya 1 TV channel aired on Monday, after the bank raised its key interest rate seven times this year.

Russia central bank says inflation shows it is right to seek return to 'neutral' policy

The central bank, which targets inflation at 4%, is expected to raise the key rate further to 9% in the first quarter from 8.5%, before gradually trimming it to 8% by the end of 2022, a Reuters poll showed last week.