Bloomberg reports that Russia's overall consumer price inflation jumped a breathtaking 32% in 2007 over what it was in 2006 -- from 9% two years ago to 11.1% last year. And that's just the overall rate. People earning Russia's average wage of $3.00/hour don't pay that -- they pay the rate that affects the tiny basket of goods and services they can actually afford. The rate on those items is far higher than the overall rate, no word yet on how much higher it was, but the figure is probably close to double the overall rate. It was the first year since 1998 that the country has seen inflation fail to fall from one year to the next.
More proof of the wonders of Vladimir Putin's rule.
Inflation Cuts Russia to the Quick