INSUBCONTINENT EXCLUSIVE:
Russia's inflation rate reached 16.7% year-on-year in March, the state statistics agency said Friday, a level not seen since 2015, while
inflation of 4%, but as the economy has been hit by unprecedented Western sanctions, the latest year-on-year figure is more than four times
higher.Renaissance Capital analysts predict that inflation will peak at 24% this summer.Inflation of food prices, a huge concern for
Russians on low incomes, has reached 19.5% year-on-year, according to Rosstat.Pasta has gone up by 25%, butter by 22%, sugar by 70% and
fruit and vegetables by 35%.Other items that have soared in price are building materials (up 32%) and home electronics (up 40%).Inflation
has been speeding up for months due to factors including the post-pandemic recovery and high prices for raw materials
President Vladimir Putin's decision to send troops to Ukraine has added sanctions and the resulting logistical difficulties as factors.This
undermines Russians' purchasing power and is a major headache for Russian authorities, whose measures to attempt to control prices have had
the opposite effect for items such as sugar.At a market in the second largest city of St
operator, said he was not ready for soaring inflation."The prices have gone up, but pay isn't going up," he said.One retired shopper,
58-year-old Yulia Ryabinina, was philosophical about rising prices, however."Since the top management and our president think that there
have to be price rises, I calmly accepted it
