Russian Inflation Spikes to 20-Year Record on War and Sanctions

From bnnbloomberg.ca

Russian inflation jumped to the highest level since 2002 as international sanctions imposed over Vladimir Putin’s invasion of Ukraine pressured prices and disrupted supply chains. Price growth was 17.8% in April from a year earlier, the Federal Statistics Service said Friday. That was just below analyst estimates for 18%, according to a Bloomberg survey of 16 economists. The core rate, which excludes volatile components like fuel and produce, ran even higher at 20.4%. Still, the Bank of Russia said this week that inflation, when adjusted for seasonal factors, has already peaked on a sequential basis now that the ... (full story)