Earlier this hour, Steve Hanke, an economist at Johns Hopkins University, tweeted that he calculates Russian inflation to currently be at 69.4%, given the Ruble’s 47.33% slide since January 1 of this year.
We did it, boys.
Source:
The Russian ruble is TANKING to new all-time lows. Conflict with #Ukraine is taking its toll on the ruble. Using high-frequency data & purchasing power parity (PPP) principles, I accurately measure inflation in #Russia at 69.4%/yr today. pic.twitter.com/Uuygj9brNq
— Steve Hanke (@steve_hanke) February 28, 2022
J Powell is thinking, “Whew, we’re only at 7%. No one’s going to notice.”
h/t NeedsPraxis
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