The Russian ruble has dropped to 109.5 rubles per dollar, the weakest rate since March 2022, highlighting the impact of ongoing sanctions and economic instability.
Despite the plunging currency, President Putin reassured that ‘everything is under control,’ echoing previous claims regarding the war, but consumers are bracing for price hikes.
Inflation is officially reported at 8.77%, but public sentiment suggests a much higher 15.3%, indicating a disconnect between government figures and consumer experience.
Russia's reliance on imports is straining consumers; Kremlin efforts to replace foreign goods have failed, except in the food sector, exacerbating economic woes.
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