The Russian economy

Russia raises interest rates to 13.5% citing inflation as the problem. The rates of interest and inflation (Russian figures) don’t support this:

Russian interest rates:

Russian inflation rates

I suspect that the problem is the value of the rouble where one rouble is now worth less than one US cent! This must be putting an enormous problem with Russia’s balance of trade:

Russia’s current account:

Sanctions are hitting the Russian economy harder than they would like to admit