Economist Alexander Abramov: real inflation in Russia is 26.1%

Alexander Abramov, a specialist in financial markets at the RANEPA University, has conducted a study of the dynamics of the consumer basket since 2015. According to its results, the rapid increase in prices arose due to the reduction in interest rates by the Central Bank in 2020. The financier tracked the prices of MILK , bread, chicken, and imported gummy bears. The last man added to demonstrate how the dynamics of the exchange rate affects the cost of Russian goods.

The scientist called his research "Abramov's index". However, he noted that his forecast is not scientific.

The economist determined the real inflation rate in RUSSIA for November 2021 as 26.1%, while official data is only 8.4%.

This is a simple and clear reflection of what is happening now. Abramov’s results reflect the real situation better than the average and smoothed indicators of the authorities,” said Oleg Vyugin, former deputy chairman of the Central Bank.

In Russia, annual inflation slowed down to 8.11 percent - Ministry of Economic Development 

Earlier it was reported about the statement of the press secretary of the President of the Russian Federation Dmitry Peskov about the causes of high inflation in Russia. According to the Kremlin spokesman, the “pressure of internal and external factors”, which is felt not only in the Russian but also in the global economy, is to blame. He also voiced the instructions of the President of Russia to do everything possible to return inflation to the planned level.