Customers shop for milk and dairy items inside an Auchan Retail International SA hypermarket in Moscow, Russia, on Monday, Jan. 31, 2022. Inflation has remained more than twice the the Bank of Russia's 4% target, despite rate hikes totaling 425 basis points in 2021. Photographer: Andrey Rudakov/Bloomberg via Getty Images
Customers shop for milk and dairy items inside an Auchan Retail International hypermarket in Moscow, Russia.
Bloomberg | Bloomberg | Getty Images
Anton Barbashin, a Russian political analyst and editorial director of the journal Riddle, said price rises were inescapable for most citizens, telling CNBC that “literally half of all Russians spend most of their earnings on food, so they feel inflation the most.”
“Product inflation is now the greatest driver for inflation, as such. So prices for basic goods, food and other personal items are increasing the most,” he noted.
“So far, the strategy for most Russians has been to downgrade their consumption patterns, opt for lower-quality goods. Postpone any long-term purchases. However, this stress is not spread out evenly. Moscow is still barely feeling the troubles. The most hit are [people in] the smallest towns and rural areas,” he noted.
‘Butter for guns’
0 মন্তব্যসমূহ