Russia Said to Brace for Fastest Inflation in 5 Years on Ban
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Russia is preparing for consumer prices to rise at the fastest pace since 2010 after President Vladimir Putin banned food imports from the U.S. and its allies and backed a sales tax, according to three officials.
Annual inflation is likely to accelerate to 8 percent in 2015, far above a 4.5 percent target, the officials said, asking not to be identified as the information isn’t public. Prices may grow 10 percent next year for the first time since 2008 if tit-for-tat sanctions escalate, two of them said.