Inflation in Russia has accelerated sharply in the past few weeks as the ruble slipped to an all-time low last month after Russia invaded Ukraine on Feb. 24
Consumer prices in Russia jumped 7.61% in March, their biggest month-on-month increase since January 1999, data showed on Friday, as the economy took a hit from sanctions and a record fall in the rouble.
The fall in the rouble, which has recovered sharply this week to 2022 highs, boosted demand for a wide range of goods from food staples to cars on expectations that prices will rise even more. In year-on-year terms, Russia’s consumer price index rose 16.69% in March after rising 9.15% in February, Rosstat said.
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