Russian Central Bank warns of inflationary pressures amidst labor shortage and ruble depreciation.
TL;DR Summary
Russia's central bank has warned of inflationary pressures due to the falling ruble and record labor shortage, with interest rates being kept steady at 7.5% but a potential increase on the horizon. The ruble has fallen by 14% against the dollar this year, making imports more expensive and stoking inflation further. The labor shortage has contributed to a sharp drop in Russia's industrial production, with an estimated 1.3 million young workers leaving the labor force last year alone.
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