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Russia Headed for One of Biggest Inflation Shocks in Decades

  • Inflation soars 2.2% in just a week, most since at least 2008
  • Businesses, consumers start to feel impact of ruble collapse
Bloomberg business news
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Russia is headed for one of its biggest inflation spikes this century after waves of sanctions over the invasion of Ukraine touched off the collapse of the ruble and disrupted trade.

In the first full week since the military offensive began late in February, prices for new domestic cars soared over 17% and the cost of television sets jumped 15%. Some medicines and vegetables became 5% to 7% more expensive in the seven days ending March 4.