Free Republic

Russian imports of 1.2 billion eggs will be exempt from duty for the first six months of 2024, the economy ministry said on Wednesday, to help rein in prices as some shops run low on supplies. Egg prices have risen more than 40% so far this year and empty egg shelves have been seen in some Moscow supermarkets in the past week. -snip- Natalia Chernovolova, a resident of Valuyki in the Belgorod region, said prices above around 150 roubles were too much for her. "I have to look for other options, cheaper ones," she said. "Because we need eggs not...

Russia's central bank raised its key interest rate by a higher than expected 200 basis points to 15% on Friday, hiking borrowing costs for the fourth meeting running in response to a weak rouble and stubborn inflation pressure. The central bank has now raised rates by 750 basis points since July, including an unscheduled emergency hike in August as the rouble tumbled past 100 to the dollar and the Kremlin called for tighter monetary policy.

A new economic outlook revealed that Russia expects to sell gas to China at a steeply discounted rate over the next three years, far below the price European buyers will pay, according to a Bloomberg report.