But Nabiullina said it would be a harmful policy mistake to underestimate inflation risks, including any that might stem from the new Omicron variant of the coronavirus.
"There is a lot of uncertainty about this new strain and what reaction it will require from the governments, authorities around the world. It is too preliminary to assess the exact impact on the economy and inflation." "The current situation is of course much less dramatic than the one we had then. Still, we are very concerned with the level of inflation and inflation expectations in Russia," Nabiullina said.
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