Extreme Inflation in America
Posted: March 19th, 2022, 8:40 am
Its about to get much worse...
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Development of inflation rates in Russia
The inflation rate for consumer prices in Russia moved over the past 27 years between 2.9% and 874.2%. For 2020, an inflation rate of 3.4% was calculated.
During the observation period from 1993 to 2020, the average inflation rate was 65.4% per year. Overall, the price increase was 348,551.72 %. An item that cost 100 Rubel in 1993 was so charged 348,651.72 Rubel in the beginning of 2021.
In only a very few countries, the price increase is that high. The Consumer Price Index (CPI) of 874.2% in 1993 means, that compared to the previous year all prices have been increased by an average of 874.2%. In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.