Russian inflation up to six percent on weak ruble: Rosstat

Car bomb kills Russian-backed politician in east Ukraine
Source: Pixabay

Russia’s inflation rose in September, reaching six percent, according to figures published Wednesday by the national statistics agency Rosstat, as the country also grapples with a weak rubble.

The rise in prices stood at 6 percent compared to 5.5 percent in August, the Rosstat said.

Russia’s economy is contending with a barrage of Western sanctions triggered by the full-scale assault on Ukraine more than a year ago.

Russia’s government announced in September it was temporarily limiting exports of petrol and diesel fuel to “stabilise” the domestic market, amid soaring prices and reports of shortages in some regions.

The ruble has become weaker, crossing the psychological threshold of 100 to the dollar several times in recent months.

On the Moscow Stock Exchange on Wednesday, the exchange rate was 100 ruble to the dollar and 106.5 ruble to the euro.

To counter the depreciation of the ruble and high inflation, the Russian central bank increased its key rate from 8.5 to 12 percent, and then to 13 percent.

The central bank’s chief Elvira Nabiullina has warned that Russia’s economic growth would slow in the second semester.

Russian President Vladimir Putin has downplayed economic challenges, saying his sanction-hit country’s economy was “stable”.

About the author


Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

Daily Newsletter