In this paper, I explore the optimal inflation target level in the New Keynesian DSGE-model with imperfect price indexation for non-zero trend inflation and a zero lower bound on interest rates. In addition, I study the impact of the real interest rate on the choice of the optimal inflation target and discuss the costs of adopting a new target level. As a criterion for determining the optimal target level, I use a structural, consumer utility-based loss function. My model is calibrated for the Russian economy but may also be relevant for other resource-rich emerging market countries. I have found out that the optimal inflation target level in this setting of the problem is below the current target of the Bank of Russia of 4%, and this conclusion is robust to the model parameters. In addition, I have ascertained a stable negative relationship between the real interest rate and optimal inflation rate.