the rate of price growth is high, something cambodia telegram data always shoots up for us. I remember 2021 — one type of goods (rose sharply in price. — RBC), then another. And there is a temptation to associate high inflation with a certain type of goods. But, unfortunately, there are common reasons. First of all, in our case, it is that high demand growth outpaces supply capabilities.
— High demand, record fiscal stimulus
and low unemployment – all these factors that are driving inflation – how long will they last?
— There are factors that are with us for the long term. This includes the situation on the labor market, low unemployment. I think that this factor will determine the supply capabilities, how quickly supply can adjust to demand.
As for the budget impulse, indeed, we have are you looking for an adrenaline-pumping adventure a stimulating budget policy, but it is assumed that the budget impulse, for example, in 2024 will be less than in 2023.
Consumer demand is indeed high
but it is directly affected by our monetary policy, the key rate. Our decisions are reflected in the economy with some lag. Because it is a long chain: the key rate is raised, after that market rates on deposits and loans are raised. This affects the volume of deposits, loans, changes in people’s behavior – whether they will spend, save, and so on. And ao lists only after that does it affect prices. We estimate these lags at three to six quarters.