Economics
Russia Eyes a Big Rate Hike as Inflation Soars
- Annual inflation rose to 6%, well above central bank 4% target
- The majority of economists expect a 50 basis-point hike
Annual inflation accelerated to 6% in May from a year ago as global food prices soared and a lack of Covid restrictions helped the economy recover from its pandemic slump at a faster pace than expected.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
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Russia is on course for its second big interest-rate increase in a row on Friday after inflation accelerated at the fastest pace in more than four years.