Russia Raises Interest Rates to 15% as Inflation Soars to 6.6%
-
Russia's central bank raised interest rates to 15% due to high inflation of 6.6% in October, exceeding expectations.
-
Inflation is expected to keep rising to 7.5% by year-end before falling back to 4% in 2022.
-
Price growth averaged 12.1% in Q3, up from 5.1% in Q2, showing rising pressures on Russian businesses.
-
Russia's limited manufacturing capacity struggles to meet rising consumer demand amid the war economy.
-
The ruble has weakened significantly, raising import costs and further fueling inflation.
![](https://i.guim.co.uk/img/media/7eaaf65cf515eb99fd02ef1d93e569936338f22f/0_137_4761_2856/master/4761.jpg?width=1200&height=630&quality=85&auto=format&fit=crop&overlay-align=bottom%2Cleft&overlay-width=100p&overlay-base64=L2ltZy9zdGF0aWMvb3ZlcmxheXMvdGctZGVmYXVsdC5wbmc&s=13b4c7a4e564ebeb88bee1dca495dfb5)