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Politics : Formerly About Advanced Micro Devices
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To: Sdgla who wrote (1411756)7/25/2023 12:51:55 PM
From: Wharf Rat1 Recommendation  Read Replies (2) of 1578510
 
You need a raise.

Russian inflation is raging at 60%, not the reported 3.6%, thanks to the ruble’s ‘freefall’, top economist Steve Hanke says Bold theirs.

Russian inflation is soaring at extreme levels thanks to a steep slide in the ruble’s exchange rate, according to Steve Hanke.

The economist estimated Russia’s current annual inflation at 60%, almost 17 times the level reported by the central bank.

“The ruble’s FREE-FALL is fueling RAGING INFLATION in Russia,” the Johns Hopkins professor said.

Russia could be grappling with an unreported inflation crisis as its war with Ukraine rages on, if the estimates of top economist Steve Hanke are any guide.

Based on his own calculations, Hanke gauged the Russia’s annual rate of consumer-price increases at an eye-watering 60%, far above the 3.6% level most recently reported by the Bank of Russia.

“According to the Central Bank of the Russian Federation, Russian inflation expectations jumped to 11.1% in July. Today I measure inflation at 60%/yr, ~5.5x the central bank’s data point. The expectations appear to be way too optimistic,” the economist said in a tweet.

“The ruble’s FREE-FALL is fueling RAGING INFLATION in Russia,” the applied economics professor at Johns Hopkins University said in an earlier tweet.

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