Russia records highest inflation since 2016

(Photo: Pixabay)
MOSCOW — Russia’s rapidly rising inflation rate has reached 8.4 percent year-on-year, double the Central Bank’s target and the highest since 2016, the Rosstat statistics agency said Wednesday.   اضافة اعلان

Compared to October, consumer prices increased by almost one percent in November. 

Over one year, food prices have jumped 12 percent — especially eggs (26 percent) and meat (18 percent). 

Inflation has been rising steeply for months, with food prices skyrocketing, in a blow for the many Russians with low incomes and little savings. 
Last month, Russia’s central bank chief Elvira Nabiullina warned that rising inflation was a “real disaster” for the country and urged the government to take action. 

“High inflation really destroys prosperity” and is a real disaster that makes people poorer,” said Nabiullina, who is one of the few officials occasionally critical of government policies.  

Nabiullina has criticized government measures to cap the prices of certain goods as ordered by President Vladimir Putin.

Read more Business