52
Russian inflation is raging at 60%, not the reported 3.6%, thanks to the ruble's 'freefall', top economist Steve Hanke says
(markets.businessinsider.com)
this post was submitted on 24 Jul 2023
52 points (94.8% liked)
Ukraine
8317 readers
288 users here now
News and discussion related to Ukraine
*Sympathy for enemy combatants is prohibited.
*No content depicting extreme violence or gore.
*Posts containing combat footage should include [Combat] in title
*Combat videos containing any footage of a visible human must be flagged NSFW
Server Rules
- Remember the human! (no harassment, threats, etc.)
- No racism or other discrimination
- No Nazis, QAnon or similar
- No porn
- No ads or spam (includes charities)
- No content against Finnish law
Donate to support Ukraine's Defense
Donate to support Humanitarian Aid
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
From the article: "According to the Central Bank of the Russian Federation, Russian inflation expectations jumped to 11.1% in July."
That's a pretty high number too. Especially since expectations are that it will get worse for a number of reasons.
Russia is sorely lacking workers now, in part because they fled the country, and ion part because they are in war or casualties of war, and in part because the Russian demographics would have caused a slight drop too.
Despite that economists expect a slight economic increase this year. This is a bit strange, but to me it seems that although the Russian economy is under a lot of stress, it simultaneously acts like it's overheating, just maintaining the current level.
Whether this will soon act like a bubble collapsing IDK. But if it does, it's really bad, because it's not just financial, it's the entire infrastructure that basically collapses.