I spent Russia Billions of dollars on its soldiers and arms industry since sending troops to Ukrainewhich is an increase in Spending It inflated the size of its economy but drove up prices.
The rate reached Annual inflation 9.05 percent in August 2024, down slightly from 9.13 percent in July but still well above the central bank’s target of 4 percent, according to data from state statistics agency Rosstat.
The data comes a month after the agency reported that the rate Economic growth in Russia It declined in the second quarter of 2024, expanding by four percent, compared to 5.4 percent in the first quarter.
The figures have raised some concerns that Russia is heading into a period of “StagflationWhen prices rise despite low or non-existent economic growth.
Over the past year, it has raised Central Bank of Russia Prices Interest largely in an attempt to calm what he warned was an economy growing at an unsustainable rate due to the massive increase in government spending on the attack on Ukraine.
He recently said that growth had begun to decline, and he hoped that the peak would be Inflation It has passed.
Russia is expected to spend about 9 percent of its GDP on defense and security this year, a figure not seen since the Soviet era, according to President Vladimir Putin. Putin.
