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Inflation in Russia reaches 7-year high prices jump 10%

by John Pierce
July 3, 2023
in Business
1 min read
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annual inflation in Russia accelerated to 16.70% of April 1, her highest Since March 2015 and up From 15.66% in the previous week, the economy Ministry said on Wednesday, as the ruble’s volatility sent prices higher amid unprecedented Western sanctions.

economic inflation in Russia accelerated sharply in The past Few weeks as the ruble hit an all-time low demand for wide range of Goods from basic foodstuffs to cars on Price forecast will rise even in more.

weekly inflation in Russia slowed to 0.99% in Week ending April 1 from 1.16% a week ago, taking into account year- so far increased in Data from the statistics service Rosstat showed consumer prices to 9.99% on Wednesday.

In the same three-month period a year In the past, consumer prices increased by 2.72%.

In the week of April 1, prices on Almost everything from vegetables and sugar to clothes and smartphones rising Farther but slower pace From in The past weeks as the ruble recovered from record lows hit in March.

Center bankwhich targets annual inflation at 4%, keep its value key rate by 20% in March warned of imminent spike in Inflation and economic deflation looming.

nearly 75% of people I asked online By Finam brokerage, inflation in 2022 is forecast to exceed 20%, but analysts say further inflationary risks will be limited by the amount. drop in real income financial company said on Wednesday.

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