Russia’s annual inflation hits 20-year high


The annual inflation rate of Russia hit 17.83% in April, the highest level since January 2002, official data revealed on Friday.

According to Rosstat, Russia’s statistics agency, food prices increased 20.5% year-on-year in April.

The prices rose 20.2% for non-food products and 10.9% for services.

According to the Russian central bank’s expectation, the annual inflation rate is projected between 18% and 23% over the year of 2022.

* Writing by Gokhan Ergocun from Istanbul

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