Russian inflation hits record high

Russian inflation hits record high

Russia’s inflation rate reached a record high of 8.5% in October 2021, the highest level since 2016. The sharp increase in prices is attributed to a combination of global supply chain disruptions and domestic factors.

The rising inflation has led to a decrease in purchasing power for Russian consumers and is putting pressure on the country’s economy. The government is taking measures to address the issue, including implementing price controls and increasing interest rates.