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Russia's Inflation Hits 9.5% as Central Bank Raises Rates

2/6/2025

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Summary

Story summary

Inflation in Russia soared to 9.5% in December, with food prices skyrocketing by 22.9%. In a bold move, the Central Bank hiked interest rates to a staggering 21% to tackle this crisis fueled by sanctions and military expenditures. Yet, despite these efforts, the cost of living continues to climb, straining households across the nation.

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Story summary

Inflation in Russia soared to 9.5% in December, with food prices skyrocketing by 22.9%. In a bold move, the Central Bank hiked interest rates to a staggering 21% to tackle this crisis fueled by sanctions and military expenditures. Yet, despite these efforts, the cost of living continues to climb, straining households across the nation.