INSUBCONTINENT EXCLUSIVE:
Prices in Russia have risen faster over the last two weeks than the government hoped they would during the entire year, official statistics
published Wednesday showed.Inflation came in at 2.1% for the seven days between March 5-11, the Rosstat statistics agency said
on households and businesses that were already struggling off the back of the coronavirus pandemic and almost a decade of stagnant living
crisis which economists say is likely to be its worst since the fall of the Soviet Union
The ruble has collapsed, prompting the Central Bank to raise interest rates to 20% and ban Russians from purchasing foreign currencies or
stabilize prices at home.Prices for over-the-counter medicines have also risen sharply since Moscow invaded Ukraine
As have imported goods and products that rely on foreign parts, such as televisions, smartphones and cars, which have all become at least
10% more expensive over the last two weeks, Rosstat said.Economists are widely predicting the Russian economy to slump by at least 10% this
announced that rate hike days after Russia launched its war on Ukraine, when she appeared in all black and refused to take questions from
Previously seen as a star of the international investment community, she has come under pressure from some Western investors to resign
surveyed by the Central Bank in early March said they expect inflation to come in at 20% for the year, with interest rates to stay in
double-digit territory until at least the end of 2023.
