Russia’s Central Bank raised its key interest rate from 19% to a historic 21% on Friday.
Seasonally adjusted price growth last month rose to 9.8% year-on-year from 7.5% in August. Core inflation increased to 9.1% from 7.7% over the same period.
Russia has faced volatile prices (and rising inflation) since it sent troops into Ukraine in February 2022.
Russia is set to spend almost 9% of its GDP on defense and security this year, according to official forecasts.
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I found a neat database on military expenditure as a percent of GDP. Tldr: 9% is a LOT, but also Ukraine is at 36%
Special Money Operation.
