Russian Inflation Soars to 5.15%, Raising Uncertainty for Businesses and Risk of More Rate Hikes

Inflation in Russia accelerated to 5.15% year-over-year in August, well above the central bank's 4% target.
High inflation makes economic environment extremely uncertain for businesses in Russia, per President Putin.
Russia may lift interest rates again to lower inflation, but risks restraining economy.
Putin said Russia's economic problems are not "absolutely insurmountable."
Experts say Russia's economy has been hobbled by sanctions and the costly invasion of Ukraine.

yahoo.com

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Putin says Russia faces big economic challenges, must keep inflation in check

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Posted 9/13/2023, 2:02:00 AM

Russian Inflation Soars to 5.15%, Raising Uncertainty for Businesses and Risk of More Rate Hikes

Inflation in Russia accelerated to 5.15% year-over-year in August, well above the central bank's 4% target.
High inflation makes economic environment extremely uncertain for businesses in Russia, per President Putin.
Russia may lift interest rates again to lower inflation, but risks restraining economy.
Putin said Russia's economic problems are not "absolutely insurmountable."
Experts say Russia's economy has been hobbled by sanctions and the costly invasion of Ukraine.

yahoo.com

Relevant topic timeline:

8/22/2023

Putin says Russia faces big economic challenges, must keep inflation in check

8/22/2023

BRICS: Putin Says Fading US Dollar Is An 'Irreversible Process'

Russian President Vladimir Putin stated at the BRICS Summit that the decline in the global role of the US dollar is an irreversible process, emphasizing the bloc's de-dollarization efforts.

8/26/2023

Russia’s economy is overheating

9/21/2023

Russia's Economy Stumbles as Inflation Soars and Recession Looms

9/26/2023

Russian oligarch Deripaska says economy holding up better than expected under sanctions