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A targeted inflation is a policy where the central bank sets a certain level of inflation rate as its goal. This makes people believe that prices will continue to increase which spurs the economy to buy things now before they cost more (demand-pull inflation)
The Central Bank of Russia has a targeted inflation rate of 4%. And Russia's inflation for November 2018 is 3.8% year on year, an increase of 0.3% from October 2018. While the inflation rate is 0.2% away from the targeted inflation, it has not reached the consensus expectation of Reuters economist survey, 3.9% year on year and that the inflation rate will not reach 4% by the end of 2018.

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Russia's unemployment rate rose to 4.7% in October 2018 compared to September 2018 when the unemployment rate was at it's lowest: 4.5%.
The number of unemployed increased by 5.2 percent from a month earlier to 3.611 million.
Due to country's economic downturn taking its toll on the labor market.
Instability on the jobs market was also reflected in the fact that part-time employment in Russia had risen by 40 percent since the beginning of the year.

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Russia's Consumer Price Inflation (CPI) continued to accelerate, registering 3.8% year-on-year in November 2018, up from 3.5% y/y in October 2018, and gaining 1.3pp since 2.5% seen in July, according to a report by Rosstat statistics agency. The inflation reading in November came close to the Central Bank of Russia's (CBR) target rate of 4%.

Still, the inflation reading was slightly lower than the consensus expectation of 3.9% y/y of Reuters economist survey. The CBR commented on December 6 that although CPI has already accelerated to 3.9% by the end of November and is not expected to breach 4% in 2018.

In autumn price pressures from main commodities such as food and gasoline were in focus, as the CBR signalled it is ready to further tighten the monetary policy should price growth spin out of control.

Analysts surveyed by Vedomosti daily warn that recent weekly inflation data points to rather stable acceleration trend and estimated that should weekly inflation in December remain at above 0.2%, the annual inflation will breach the 4% target.

Previously the analysts believed that the CBR will maintain the key rate at 7.5% at the next board meeting on December 14, and will maintain the rate throughout 2019 to start cutting it again in 2020. But the accelerating inflation dynamics increase the likelihood of another rate hike.

"The rise in Russian inflation, to 3.8% y/y in November, from 3.5% y/y in October, was driven entirely by higher food inflation. As a result, while the central bank Board meeting next Friday will be a close call, we think policymakers will refrain from hiking rates again and keep rates unchanged instead," Capital Economics commented on December 6.

Previously in September as inflation already broke out of CBR's forecast of 2.8-3%, and sanction pressure provoked volatility and pressure on Russian assets, the CBR surprised analysts by front-loading the monetary policy rate with preventive 25bp hike to 7.5%.

The regulator then maintained the rate flat in October commenting that actions taken in September have stabilised the domestic financial market and calmed ruble volatility. However, the CBR in the accompanying press-release warned that "inflationary risks remain elevated, especially in the short-term" and that "uncertainty remains concerning further developments of external conditions."

In these conditions the CBR left the possible rate hike on the table, saying that moving forward, it will "assess the practicability of increasing the key rate, taking into consideration the dynamics of inflation and economic growth, as well as external risks and financial markets' reaction to them."

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Russia's inflation accelerates to 3.8% ahead of CBR meeting

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Russia's Consumer Price Inflation (CPI) continued to accelerate, registering 3.8% year-on-year in November 2018, up from 3.5% y/y in October 2018, and gaining 1.3pp since 2.5% seen in July, according to a report by Rosstat statistics agency. The inflation reading in November came close to the Central Bank of Russia's (CBR) target rate of 4%.

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According to the article, Russia's GDP growth can reach up to 3% in 2021. Russia's economy is growing at a low pace.
The GDP in Russia is expected to grow 1.5 - 2% for the financial year of 2018 with a high level of employment. GDP growth in Russia can reach 3% in 2021 in case of successful implementation of the government's planned economic measures.
Unemployment rate in the country is low, increase in the rate of economic growth was possible only with labor productivity, public investment.
Due to Western sanctions and falling of oil prices, Russia' ruble had been repeatedly hit over recent years.

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Article 1 - showing the increase in Russia's GDP 

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Article 1 - showing the increase in Russia's GDP 

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Russia's GDP growth can reach 3 percent in 2021 given the implementation of the government's economic policies, Central Bank of Russia (CBR) Governor Elvira Nabiullina said Thursday.

MOSCOW (UrduPoint News / Sputnik - 08th November, 2018) Russia's GDP growth can reach 3 percent in 2021 given the implementation of the government's economic policies, Central Bank of Russia (CBR) Governor Elvira Nabiullina said Thursday.

"Now the Russian economy is growing at a low pace. According to our estimates, this year's growth will be 1.5-2 percent in the conditions of a sufficiently high level of employment ... In case of successful implementation of the government's planned economic policy measures, according to our estimates, GDP growth can reach 3 percent in 2021," Nabiullina said.

She noted that unemployment in the country was currently at historically low levels, stressing that an increase in the rate of economic growth was possible only with an increase in labor productivity, improvement of the business climate, as well as stimulation of private and public investment.

"We need growth that is based on investments that increase productivity," Nabiullina said.

Russia's ruble has been repeatedly hit over recent years by the impact of Western sanctions as well as falling oil prices, with the twofold plunge of its exchange rate partly contributing to high inflation. The central bank responded by adopting a tough monetary policy and high interest rates with an emphasis on stemming inflation.

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Russias GDP Growth Rate Can Reach 3% In 2021 - Central Bank Governor - UrduPoint

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MOSCOW (UrduPoint News / Sputnik - 08th November, 2018) Russia's GDP growth can reach 3 percent in 2021 given the implementation of the government's economic policies, Central Bank of Russia (CBR) Governor Elvira Nabiullina said Thursday. "Now the Russian economy is growing at a low pace.

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Article 2 - Decrease of unemployment in Russia

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Article 2 - Decrease of unemployment in Russia

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Russia Unemployment Rate | 1992-2021 Data | 2022-2023 Forecast | Calendar | Historical

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Russia's unemployment rate edged down to 5.4 percent in March of 2021, from 5.7 percent in the previous month and below analyst forecasts of 5.6 percent. It was the lowest rate since March last year but still well above pre-pandemic levels.