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The onslaught on the Russian ruble amid a pandemic is getting stronger

Consequences of the COVID-19 pandemic for the Russian economy. Reasons and forecasts for the depreciation of the Russian currency according to experts and the expectations of the Central Bank in relation to inflation

The onslaught on the Russian ruble amid a pandemic is getting stronger

Over the entire period of the ubiquitous existence of COVID-19, inflation has picked up noticeably in turnover. The growth of indicators of general depreciation increased by 1.6 times, and in the food sector the rate of inflation has almost tripled.

The rise in price affected essential goods. The biggest increase was in the price of granulated sugar. According to Rosstat, the rise in value is observed almost throughout Russia; in 32 regions, sugar has risen in price by at least 20.2%. For residents Kursk < / a> in the region, sugar increased by 29.4%, in Kaluga - by 27.3%.

In the total annual equivalent, the cost of sugar in Russia increased by 39.8%. Pasta rose in price by 9.3%, sunflower oil - by 14.5%, cereals - by 22%, fruits and vegetables - by 9%. In addition to the rise in prices in the food market, the phenomenon is observed in the field of pharmacology and in the non-food segment.

Experts note that the health of the ruble is affected to a greater extent by the accelerating growth in world food prices and the depreciation of the currency. The ruble exchange rate has every reason to bounce back, but given the rate of price increase, according to the expectations of the Central Bank , at the end of the year the inflation rate will be 4.2% at best.

Foreign investors are losing interest in the Russian ruble. The highest sales activity was recorded from 28 to 30 October and amounted to 110 billion rubles. Sales of the Russian currency started in March, since then it has approached trillions of rubles.

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