Russia’s Inflation at 20-Year High

The Russian Federal Statistics Service (Rosstat) reported that the consumer price index (CPI) rose 17.83% year-on-year in April, the highest level since January 2002.

The rise in the consumer price index was boosted by the devaluation of the ruble and sanctions imposed by the West. This affected the supply chain after Russia allowed troops to enter Ukraine in February.

On a monthly basis, the consumer price index slowed to 1.56% from a 7.61% increase in March.

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