Annual inflation in Russia rises to 17.7%, the highest level in the last 20 years

The Russian Ministry of Economy said that the annual inflation in Russia accelerated to 17.7% through April 22, the highest level since the beginning of 2002 and from 17.62% a week ago, due to sharp price increases. in amid Western sanctions.

Prices of almost everything from vegetables and sugar to clothes and cell phones have skyrocketed in the past few weeks since Russia launched what it calls a “special military operation” in Ukraine on February 24.

Consumer prices have risen since the beginning of the year by 11.32%, compared to an increase of 2.72% in the same period last year.

A document from the Ministry of Economy showed yesterday that, on an annual basis, inflation has already reached its highest level since 2002 at 17.6% in mid-April, and is starting to accelerate to 22.6% throughout the year. 2022.

Interestingly, the Russian Central Bank is targeting 4% annual inflation.

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