I studied in one border city in the 1980s. Many Russians had their shopping trips to this city. Unintended consequences. Now after many Western sanctions Russian ruble has felt a lot and it has made much more expensive for Russians to buy products in EUROs and this has had negative impacts on the border cities when Russians can not have their shopping trips to these border cities. I expect that the war continues to the distant future.
I made a language mistake. I should have written ‘Russian ruble has fallen a lot’. Sorry about that.
Inflation is also rising in the euro zone and is close to 6 %. I think that this is a worldwide phenomena. How are prices increasing in your part of the world?
So this means food etc gonna cost more? 6 euro more?
I think they were already up about 6% before the latest craziness. This won’t help.
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Well gas is almost 1.90 per liter here now. So fuel prices are going up
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I noticed a slight increase in certain items and sometimes some items are totally bought out of stock…disturbing trend…
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@Yellowdiamond Products will cost 6% more annually. Some products such as coffee prices have risen more just in a few months. Costa Rica coffee was around 3 euros and now it is 3.99 euros, that is 33% increase in coffee prices and this has not been an annual increase.
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Annual inflation here used to be about 3%. Some things are up 35%. We’re waiting for the new quarterly inflation stats to come out, but everyone is expecting to hear at least 10% inflation now.
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10 % inflation is quite high. They have written that inflation is high near warring armies. These new sanctions will increase inflation a lot internally in Russia. We just need to see what happens in the future.
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Before starting to write here how inflation is high I did not know that the US President Biden had addressed this issue. Inflation seemed to have become the global problem. I do not know where it ends. There are countries where they have hyperinflation such as Venezuela and people are trying to get more stable currencies such as the US dollar or the euro. Based on some knowledge Russia’s internal future inflation may become 50 %.
Russia brought its problems upon itself when they invaded the Ukraine.
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Let’s just discuss inflation in this thread.
You can’t compare what’s going on with Russian currency with the rest of the world. It’s because of the sanctions their currency tumbled.
Inflation in the US is out of hand. Gas prices are ridiculous. Groceries and lumber just as bad. I was in the grocery store the other day and two ribeye steaks were $30. It’s almost cheaper to go out to eat now.
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I watched one video from Kherson, Ukraine and a man told that Russians had taken over the city, southern Ukraine and he also told that all supermarkets were closed and just a few small stores were open and that there were hundreds of people trying to buy supplies such as food, but most shelves were empty and prices had tripled.
I just remembered. Many years ago I heard somebody saying that ‘he had seen the highest gains when there is blood in the streets’. I think that inflation is also a problem currently in Ukraine.
Hope russia doesn’t tax their fossil fuel that supplies Germany and the west power.
I watched one video in which even the Chairman of Federal Reserve Bank did not seem to know how the war will affect the U.S economy. Oil prices are over 100 (or more) US dollars and this shall raise prices of many products such as gasoline among others. There are so many unknowns. Gold prices are going up which indicates that inflation is rising.
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@TomCat Your gasoline price in liters is one euro per one liter. It is not too bad. Here where I am gasoline costs 2 euros per one liter. So it is twice more expensive here.
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We pay per gallon so it ain’t so bad. I used to live in Japan and they paid about the same per liter as we did per gallon.
Where I leave gas is usually pretty cheap. I live on the Mississippi River near all of the major oil refineries.
It’s still more expensive than it was.
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