Annual inflation in Russia accelerated to 15.66% as of March 25, the highest since September 2015 and above the previous week’s rate of 14.53%, the Economy Ministry said on Wednesday, as the ruble weakened making the prices soar amid unprecedented sanctions from the West.
Inflation in Russia has been accelerating sharply in recent weeks, with the ruble’s fall to historic lows boosting demand for a wide range of goods, from basic foodstuffs to cars, with expectations that their prices will rise further.
In February, annual inflation in Russia was at 9.15%.
Weekly inflation in Russia slowed to 1.16% in the week to March 25 from 1.93% the week before, taking the cumulative rise in consumer prices this year to 8.91%, data from statistics service Rosstat showed. this Wednesday.
In the week to March 25, prices for almost everything from baby food to pharmaceuticals rose the most, but at a slower pace than in previous weeks.
Russia’s central bank, which targets annual inflation of 4%, kept its benchmark rate at 20% in March and warned of an impending jump in inflation and an economic contraction.
Source: CNN Brasil
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