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International Business Times
International Business Times
Business

Russian Inflation Climbs As Ukraine Offensive Weighs On Economy

Food prices have risen fast in Russia over the last year (Credit: AFP)

Inflation in Russia accelerated in 2024, official statistics published Wednesday showed, as the costs of Moscow's full-scale offensive on Ukraine weigh on the domestic economy.

The Kremlin has ramped up spending to record levels to fund its military campaign, a surge that has saved the Russian economy from recession but triggered deep labour shortages and rapid price rises.

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