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Putin admits Russian inflation is an ‘alarming signal’ and the economy is ‘overheating’ (www.cnbc.com)

submitted 3 months ago by [email protected] to c/[email protected]

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Russian President Vladimir Putin on Thursday said that inflation is a problem facing Russia, and that the country’s economy is overheating.

“There are some issues here, namely inflation, a certain overheating of the economy, and the government and the central bank are already tasked with bringing the tempo down,” Putin said in his annual “Direct Line” Q&A session with Russian citizens on Thursday, in comments translated by Reuters.

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[–] [email protected] 5 points 3 months ago* (last edited 3 months ago) (1 children)

Yeah that's just putin trying to paint the economical disaster as something good.

Overheating: not enough goods to be bought because of growing demand.

Russia: not enough goods to be bought because of lowered production.

Or so I understand it.

[–] humanspiral -2 points 3 months ago (1 children)

AFAIU, its actually just skyrocketing wages making everything expensive. I'm not aware of serious shortages.

[–] [email protected] 3 points 3 months ago

Well now you are, there are shortages of about all imported goods due to sanctions, duh. That includes lots of food, it's not just iPhones.

Skyrocketing wages too, because the Kremlin prints money like the Weimar republic. To fund a losing war in Ukraine.