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Inflation hasn’t spared Russia. At his end-of-year press conference, Vladimir Putin himself acknowledged that inflation, a key indicator of an overheating economy, was a problem.
Officially, inflation in Russia is expected to reach 8-8.5%, double the 4% target. Other estimates suggest it could be even higher.
An economic situation that has prompted some Russian business leaders and oligarchs to sound the alarm.
The research company ROMIR reported a year-on-year inflation rate of 22.1% in September, while official data show an increase of 9.67%. Their analysis is based on the price of several consumer goods.
The price of butter, for example, rose by 25.7% between January 1 and October 28, prompting some supermarkets to put their butter in plastic containers and import butter from Belarus and Turkey.
Record inflation destabilizes Russian economy
