Inflation accelerated to 8.7 percent in Russia in December, compared with 8.1 percent in November, according to Russia's Federal Statistics Service, in an emailed statement.
I know of a no government data service that has ever over-reported inflation. Russia is unlikely to be the first. Thus, if anything, this number downplays the true inflation.
My guess is that inflation in Russia is probably over 10%. This was the fifth consecutive monthly increase in Russia's inflation rate.
A related comment on that is about recent promise by Russian govt to raise state-funded pensions to 8.7%.
ReplyDeleteI also think, that it is quite unlikely that they are keeping pensions at the level of inflation: much rather pensions' increase is substantially lower than real inflation is.