The annual rate of inflation reached 8.63 percent in September 2024, a slight decline compared to the rate recorded in August of 9.05 percent, but it is still much higher than the central bank’s target rate of 4 percent, according to data from the National Statistics Agency “Rosstat.”
And I spent Russia Billions of dollars have been spent on its soldiers and military industries since it began its war against Ukraine, and increased spending has led to a rise Inflation And so are the prices.
The Kremlin intends to increase its defense budget by about 30 percent next year, while diverting resources to the offensive in Ukraine, so that spending on the army exceeds what is spent on social welfare and education together.
Over the past year, it has been raised Russian Central Bank He raised interest rates sharply in an attempt to contain what he said was an unsustainable growth rate due to the massive increase in defense spending.
In addition, the attack in Ukraine led to a labor shortage in some sectors, as thousands of jobs that were performed by men of military service age became vacant due to mobilization, not to mention the transfer of labor to the defense industry sector.
Russian President Vladimir Putin warned on Wednesday that the numbers, although they show a decline in the unemployment rate to record levels, reflect a negative economic situation.
“There is a labor shortage in the country,” Putin said, adding, “This is indeed one of the factors limiting economic growth.”
