The Russian economy (catch all)

[Firn]

Two points have to be taken into account when reading current Russian estimates of inflations or other variables:

1) They are estimates and as in all other countries they are subject of revision in periods to come as more reliable data comes in.

2) They are Russian. Institutes like the Bank of Russia have been reliable in the past but the difficult current situation may well result that fewer want to bear bad messages.

@AP: Your link is broken, which happens. In any case like I said months ago, it looks like a long conflict and Russia's economy is as far as I can see in a pretty bad stagflation. Already in January it was seen as a potential problem. Time will tell how bad it will become and how heavy the political implications will be for Putin. It is quite possible that Putin and his circle will be able to hold it's firm grip on power, as we have seen in other circumstances. At the very least the economic damage should show other potential aggressors that such actions can have high economic costs. As a bonus the Russian military built-up will also be more costly and difficult for the Kremlin.

Regarding a whole range of developing countries, including Russia, we can speak about such a problem as stagflation, that is a rapid deceleration of economic growth accompanied by a spurt in inflation,” Kseniya Yudayeva, a deputy head of Russia’s Central Bank, said Wednesday.

Yudayeva, who was speaking at the Gaidar Forum, one of the country’s major economic conferences, said the tendency could also be observed in India, Brazil and a number of other countries.