Chronic inflation hits Russia as huge pay increases fuel rising prices

Inflation has again spiked in Russia in recent months, fuelled by massive public spending on the Ukraine war and big wage increases in many sectors of the economy. To counter this, the Central Bank raised its benchmark interest rate to a record 21 percent at the end of October, a measure that has yet to halt the persistent rise in prices.

Nov 28, 2024 - 17:00
182113
Chronic inflation hits Russia as huge pay increases fuel rising prices
Inflation has again spiked in Russia in recent months, fuelled by massive public spending on the Ukraine war and big wage increases in many sectors of the economy. To counter this, the Central Bank raised its benchmark interest rate to a record 21 percent at the end of October, a measure that has yet to halt the persistent rise in prices.

This article has been sourced from various publicly available news platforms around the world. All intellectual property rights remain with the original publishers and authors. Unshared News does not claim ownership of the content and provides it solely for informational and educational purposes voluntarily. If you are the rightful owner and believe this content has been used improperly, please contact us for prompt removal or correction.