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Updated · Bloomberg · Jul 10Russian Inflation Accelerates to 6% in June as Refinery Strikes Lift Gasoline Prices
1 articles · Updated · Bloomberg · Jul 10Summary
- Russia’s annual inflation rose to 6% in June from 5.3% in May, according to Federal Statistics Service data published late Friday.
- Ukrainian strikes on Russian oil refineries disrupted fuel production, triggering gasoline shortages that pushed pump prices higher.
- That fuel-price jump drove the latest acceleration in consumer prices, adding fresh inflation pressure to the Russian economy.
Insights
Why is Russia importing gasoline while its crude oil exports are fetching record-high prices? Are Ukrainian drone strikes crippling Russia's war economy more effectively than years of Western sanctions?