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Economy

Sharp rise in utility bills pushes Russia's inflation further off target

Euronews

Russia implemented its first double tariff hike in four years in October, driving annual inflation further above the central bank's target amid economic strain from war, sanctions, and high interest rates.

  • The October tariff increase marks the first double utility hike in four years in Russia.
  • The central bank warns this will push inflation further above the 4% target.

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Sharp rise in utility bills pushes Russia's inflation further off target — yoteki