Putin admits Russian inflation is an 'alarming signal' and the economy is 'overheating'

Russian President Vladimir Putin acknowledged during a Q&A session with citizens that inflation and an overheating economy are pressing issues in Russia, with the consumer price index reaching 8.9% in November due to rising food prices and a weaker ruble from U.S. sanctions. Putin revealed that wages have increased by 9% in real terms to combat inflation, as the central bank is expected to raise interest rates to 23%. Despite blaming international sanctions for price hikes, Putin emphasized the need for timely decisions to deliver a “soft landing” for the economy, which is projected to achieve 3.9-4% growth this year and 2-2.5% growth next year.

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