Local resident Maria Komissarova, 29, selects food items at a supermarket in the Siberian town of Tara in the Omsk region, Russia, Dec 14, 2021. REUTERS/Alexey Malgavko/File photo Russia has significantly raised its inflation forecast for the next two years and expects a much weaker ruble rate against the U.S. dollar, according to macroeconomic forecasts prepared by the economy ministry, as the costs of fighting the war in Ukraine mount. President Vladimir Putin is girding the $2.1-trillion economy for a long war and though Western hopes of stoking a swift Russian economic crisis were proven misplaced, higher inflation and a weaker ruble could spur calls for higher rates and tougher currency controls to stem the outflow of capital.

https://business.inquirer.net/420830/russia-hikes-inflation-forecast-sees-much-weaker-ruble

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