Monday, February 9, 2015

Price Inflation in Russia

On the heels of my report that a Russain economist told me that price inflation in Russia was near 50%, Bloomberg just reported:
[In Russia], food prices rose 21 percent in January from last year, with sugar jumping 68 percent. Grains and legumes saw a 45 percent spike, while fruit and vegetable prices climbed 41 percent. Luckily, alcohol inflation has tracked at a relatively tamer 14 percent.
Note: I believe the lower alcohol price inflation is only because of price controls in the sector, which suggests that under-the-table alcohol sales are going on that aren't being picked up by official statistics.


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