Russian inflation is too high. Does that matter?

While inflation has cooled virtually in all places, in Russia it’s hotting up. Client costs rose by 9.5% 12 months on 12 months in December, up from 8.9% the earlier month and uncomfortably above the central financial institution’s goal of 4% (see chart). The costs of fruit and greens have risen by greater than 20% on common prior to now 12 months. In a standard nation, this form of excessive inflation could be unsustainable. However Russia will not be a standard nation.