Dear MEL School’s Topic Readers,
Russia's economic misery deepens
It looks like a radical roller coaster
ride, for a long time and not knowing when it stops.
Russia’s central bank raised its lending
rate from 11.5% to 17% in a single shot last year. The currency plunged as much
as 40% against the US dollar just in six months. Food prices jumped over 20% in
February compared to a year earlier. It’s hardly thinkable to see your paycheck
raised at such a faster pace, isn’t it? How could ordinary people survive in
such a drastically changing environment? And make the things worse, the tunnel
looks very long and endless, or even descending.
Enjoy reading and thinking what the life is
like under such a high inflation environment.
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