Real inflation in russia was 5 times higher than officially announced
Since the beginning of the invasion of Ukraine, experts estimate that inflation for russians has reached 47%
The real inflation rate in russia was five times higher than the officially announced by the authorities, The Moscow Times reports, citing the estimates of experts from the Romir research holding.
The experts believed that as of the end of June this year, inflation in the FMCG category, which includes goods needed in everyday life, from cosmetics and hygiene products to food and medicine, amounted to 17% year-on-year. At the same time, according to official statistics, the consumer price index in russia increased by only 3.25%.
It is noted that unlike the Federal State Statistics Service, which calculates inflation based on a virtual basket of 500 goods and services, Romir measures prices based on 15 million real purchases made by residents of russian cities. Since the beginning of January 2023, the inflation rate in russia calculated in this way has been 16% – while Rosstat announced a rate of 2.7%.
Since the beginning of the full-scale war in Ukraine, according to Romir experts, inflation for russian consumers has reached 47%.
In June, russian dictator vladimir putin, speaking at an economic forum in St. Petersburg, said that inflation in russia was 2.9%, which, in his opinion, is "much lower than in many Western countries" and "close to a historic low."
Read more about inflation in russia in Mind's article.
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