Biden sanctions at work:
MOSCOW, July 11. /TASS/. The inflation level in Russia is currently among the lowest across the world, Prime Minister Mikhail Mishustin said on Tuesday at the meeting on economic issues.
“Inflation remains moderate. It stood at 2.9% from January to early July, which is much lower than last-year values,” Mishustin said. Inflation in annual terms is not above 3.5%, he noted.
“This is among the lowest indicators globally at present,” the prime minister stressed.
The situation on the Russian labor market is also stable, Mishustin noted. “The unemployment rate is kept since February at a record level of 3.2%,” he added.
The ruble has dropped in value from 52 to the dollar last year, to about 90+ to the dollar this year.
Inflation within the country is one thing. The second that their markets re-open to foreign investment, the Russian economy is going to go into a Depression as dollars that were locked into their system run away.
So, yeah, if you are a Russian...inflation may be low. But it is artificially low. I would not want to be there over the next couple of years.
Putin is not working towards peace because he is stubborn—but because any opening of his economy would quickly lead to a revolution.