The new western sanctions, the weak ruble and the lower harvest are responsible for the high inflation of Russia in December 2024 and January 2025, the Russian Central Bank reports in a report published today. Inflation, which reached 9.5% in 2024, has emerged as the biggest financial challenge for Russian authorities, as the country is approaching the fourth year of the “Special Military Operation” as Moscow calls the war in Ukraine. Increase in food and housing, prices, due to the increase in food costs and housing, increased by 1.14% from the beginning of the year to January 27, with most analysts predicting that inflation will exceed its prediction Central Bank for the whole year ranging to 4.5%-5.0%. The report also states that maintaining high economic growth rates is no longer possible in an environment of limited labor and production capacity, while further stimulation would push […]
Source: News Beast
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