Online Prices Indicate Russian Inflation Spike After Ruble Decline

Russia’s economy looks eerily similar to the 1998 Russian financial crisis which was also characterized by significant declines in the price of oil, a significant decline in the Ruble, sharp hikes in the central bank’s key rate, and now a significant run-up in inflation according to data from PriceStats which tracks daily inflation in 22 countries including Russia by monitoring online prices.
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