Russian inflation rate spikes unexpectedly

Russian inflation rate spikes unexpectedly

Russia’s inflation rate has unexpectedly spiked, reaching a new high of 6.19% in October 2021, the highest level in over five years. This surge in inflation has been attributed to a combination of factors including rising global commodity prices, supply chain disruptions, and sanctions imposed on Russia.

The Central Bank of Russia has stated that it will take necessary measures to stabilize the situation and curb inflation. However, experts are concerned that the spike in inflation could have a negative impact on the Russian economy and the purchasing power of its citizens.