this post was submitted on 24 Jul 2023
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Ukraine

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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)
submitted 2 years ago by Ulara@sopuli.xyz to c/ukraine@sopuli.xyz
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[–] SpacePirate@lemmy.ml 7 points 2 years ago* (last edited 2 years ago) (4 children)

60% against what price index? This is his own β€œHanke” index, which mostly is measuring PPP, but most of Russia always had a low PPP anyways.

Traditional consumer goods in Russia like bread, milk, and eggs are not significantly changed, but obviously most European imports are not possible right now, so specific goods may be obscenely expensive. This includes things like vehicles and technology, for obvious reasons.

Outside of major hubs like Moscow, it is a fair question to ask whether consumers even notice inflation in Russia, outside of the availability of specific brands.

[–] Ulara@sopuli.xyz 9 points 2 years ago (1 children)

Yes, Russian consumers do notice significant inflation every month: https://fom.ru/ekonomika/11554

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