Up, Up and Away

Russian officials are watching monthly inflation numbers climb higher and higher. And they just won’t stand for it!

The government has ordered prosecutors to crack down on supermarket chains to prevent price gouging or collusion between the larger retailers. Food seems especially susceptible to inflationary pressures, given the country’s dependence on imported goods, Russia’s self-imposed embargo on Western agricultural products, and the plummeting ruble.

Inflation in January was the highest it has been since the winter of 1999, when Russia was reeling from the effects of the 1998 default.