Inflation in Russia has hit a zenith of around 17 per cent, the economy minister said Thursday, as the economic crisis roiling the country takes its toll.”The peak in inflation has not passed but we have reached the highest point and will probably stay at this level for some time,” minister Alexei Ulyukayev was reported as saying by Russian news agencies. “I think that for quite a long time, a month and a half or two months it will be at around 17 per cent,” he said. Inflation has shot up in Russia as the ruble national currency plummeted in value on the back of Western sanctions over Moscow’s role in the Ukraine crisis and falling international oil prices. The steep rise in prices has slashed spending power of households across the nation and Russia is expected to plunge into recession this […]