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Tuesday, April 25, 2006

Kremlin Lies Brazenly About Inflation Data

The New Russian Corporatism blog reports, based on a Vedomosti article, that Russian inflation is grossly under-reported. NRC states:

Although the official inflation figure is 10.9%, according to the specialists, the real figure in Moscow is much higher:

  • The inflation for blue-collar workers (those earning less than 700USD per month) being around 23%.
  • Those that earn 700-1500USD – 20%
  • Those that earn more than 1500USD – 21%

The same Institute that carried out the research has commented that the official figure is only accurate for those that earn the average salary of 8800 Rubles (320USD) and does not reflect those that earn much more than that. Rosstat does not disagree with the above analysis.

It seems that whilst goods in the Average Consumer Basket have risen by 11%, those that are not in it have done so by 20%.

Also in the period from March 2005 to March 2006, property prices in Moscow have risen by 50% and petrol by 20%.Salaries have risen by 12% USD or 15% in national currency.

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