Anthony Hill5 said:More of this pro-Russian nonsense. Inflation in Russia is double what we see in the European Union.
I have already provided my analysis regarding the Ruble—specifically concerning capital controls and the restrictions placed upon citizens attempting to purchase foreign currency—just a few posts back.
The European Union is only just starting to feel the real economic fallout from sanctions. Honestly, the current inflation isn't even tied to the war in Ukraine—that trend was already kicking in before things escalated. As for Russia, they took a short-term hit and reacted by hiking interest rates (they used to be around 10%). A lot of manufacturers panicked and stockpiled raw materials at higher prices because of the falling Ruble, which forced them to bump up their own prices. So yeah, some stuff for everyday Americans—well, for people there—jumped 10-20% (some even more), but we're looking at a return to old price levels within two or three months. Since I occasionally chat with some folks from Russia, I asked them how things were actually going—everyone gives me basically the same answer: "Sure, some things are 10-20% pricier, and the big headaches are buying new cars (there aren't any available) and traveling abroad for vacation (between the flight routes and having to transit through a third country first, it's a massive hassle and extra expense). Other than that, everything is pretty much business as usual."