Russia’s inflation rate has hit 200%, a Biden economic adviser says ...Middle East

Quartz - Economy

Prices are spiraling out of control in Russia as the effects of sanctions against Vladimir Putin’s invasion of Ukraine trigger shortages and pummel the ruble.Inflation in the country is now running at an annual rate of 200% or 2% a week, according to Brian Deese, director of the US National Economic Council. Speaking at a breakfast hosted by the Christian Science Monitor on April 6, he also forecast that Russia’s economy would shrink by 10% to 15% by the end of 2022.On Wednesday, the US rolled out a new set of sanctions preventing US companies from investing in their Russian facilities or in new Russian companies. The restrictions also sanctioned Putin’s two daughters for the first time in h

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Russia’s inflation rate has hit 200%, a Biden economic adviser says ...Middle East

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