Prices in Russia reach their highest level

Prices in Russia reach their highest level.

Prices in Russia rose at their fastest pace in more than two decades during the first week of military aggression against Ukraine.

Inflation reached 2.2 percent between February 26 and March 4, the largest price increase in a seven-day period since 1998.

According to data published by the Ministry of Economy of Russia, retailers have raised prices in response to the fall in the value of the ruble.

The Russian currency has lost more than half of its value since President Vladimir Putin launched the illegal invasion of Ukraine on February 24.

On an annual basis, inflation rose 9.2 percent in February from 8.7 percent a month earlier.

Analysts expect the annual rate of price growth to exceed 20 percent by the end of March.

The Russian economy is preparing for its worst downturn since the end of the Soviet Union.