In a different set of data published on Wednesday, the Economy Ministry said inflation was running at 3.59% on an annual basis, up from 3.35% a week ago.
Double-digit annual inflation hit Russia last year soon after it sent its armed forces into Ukraine on Feb. 24, 2022, a move that prompted sweeping Western sanctions.
Annual inflation in Russia has dropped below the central bank’s 4% target in recent months due to that high base effect, but is now climbing once more.
Doesn’t look like hyperinflation to me. In fact the whole idea of defaulting on Western debt seems like a very good idea.
If you are a country that can buy its goods with BRIC versus Dollars, what is the point of being tied to dollars? As the country that prints the dollars exports more dollars than goods, what do you need to be on that merry go round for?
Cheers
Qazulight