In Russia, inflation may accelerate due to the conflict in the Middle East.

The escalation of the military-political conflict in the Middle East may lead to accelerated inflation in Russia. This forecast was made by Kirill Tremasov, an advisor to the Chairman of the Central Bank, during his speech in Novosibirsk, reports TASS. He cited the rise in global prices for oil and fertilizers as a prerequisite. Let us once again remind that these are the most common types of products transported through the Strait of Hormuz, which passes through Iran. The consequences of the blockade of this sea route by Iranian forces in February-March seriously affected the physical availability of these goods and their cost. Recently, access to this route was temporarily opened under an agreement between the US and Iran, but this has not yet been able to fully compensate for the increase in prices for these goods and their shortage. Tremasov noted that the unstable situation in the Middle East carries additional inflationary risks for Russians. The advisor to the head of the ...