Russian inflation has soared to an extreme level of 60%, compared to the official figure of 3.6%, thanks to a plunge in the ruble, according to top economist Steve Hanke.
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.
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.