Russia facing new inflation wave amid fuel price hike - Ukraine intelligence

This was reported by the Foreign Intelligence Service of Ukraine, Ukrinform saw.

It is expected that such a price hike will serve as a new catalyst for the overall increase in consumer prices.

The key factors include the delayed inflationary effect (9.5% for 2024 and 10.2% for January-April 2025), increase in excise taxes (+4%), reduction in budget subsidies to oil companies, and increase in Transneft’s transportation tariffs (up to +10%).

Against this background, Russia has almost halved its maritime petrol export. In May, it fell to 130,000 tons, which is 47% below last year’s volumes.

“The rise in fuel prices will inevitably affect prices in logistics, manufacturing and retail –inflationary pressure on the economy of the rf will only increase in 2025,” the intelligence agency wrote.

As Ukrinform reported earlier, foreign intelligence data as of early May indicated that Russia is on the verge of an economic crisis.