MOSCOW, September 19. /TASS/. The Bank of Russia noted an increase in pro-inflationary pressure, the monthly decline in prices in August reached a value close to zero, the regulator said on Monday.

"Steady expansion of domestic food supply, strengthening of the ruble that was passed on to prices, and subdued consumer sentiment continued to have a disinflationary effect. However, seasonally adjusted monthly price decline was close to zero after 0.27% in July. Pro-inflationary pressure starts being more noticeable," the Bank of Russia said, adding that it was associated with continuing restrictions on the production and imports of a number of non-food products, rising costs, maintaining inflationary and price expectations at an elevated level.

The regulator recalled that annual inflation slowed down to 14.3% in August. According to the regulator's forecast, annual inflation will be within 11-13% in 2022, and taking into account the ongoing monetary policy, it will decrease to 5-7% in 2023 and return to 4% in 2024.