Moscow (Russia) – Since Russia invaded Ukraine, major powers around the world have imposed sanctions on Russia, while the latter is also spending heavily on the war. As a result, the cost of living for Russian citizens has risen by 14%. In some parts of Russia, the prices of sugar have risen by a staggering 37%, while an average rise is 14%. Russia’s currency, the Ruble, has depreciated by 22%, while domestic inflation has risen by 14.5%. Russia’s finance ministry says inflation has risen this sharp for the first time since the end of 2015. Russian banks have raised interest rates on loans by 20% to contain the depreciating Ruble.
Russia’s cost of living soars by more than 14% https://t.co/GYHyb5MFe5
— BBC News (World) (@BBCWorld) March 24, 2022
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