The national economy enters the large-scale restructuring phase that will be accompanied by a temporary yet inevitable inflation spike, the Bank of Russia said on Friday, APA reports citing TASS.
The Russian economy is entering the phase of a large-scale structural transformation, which will be accompanied by a temporary but inevitable period of increased inflation, mainly related to adjustments of relative prices across a wide range of goods and services," the regulator said.
"Business adaptation to the change in external conditions, including a changeover in productio
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