Russian economy in turmoil as pensioners ‘suffering’ and bread prices ‘constantly rising’

newspapers are sounding the alarm as bread prices are to spike again and pensioners are expected to suffer.

News outlet Moskovsky Komsomolets reported this week that there will be a ” from March 1.”

The report adds: “Major producers of bread and flour products have informed stores that from March 1, the cost of their goods will rise by 10-12%.

” is the world’s largest exporter of wheat. And yet bread, which is the staff of life, is constantly going up in price.”

Meanwhile, the newspaper Nezavisimaya Gazeta warned that the Russian economy faces an “accumulation of problems” which are “difficult to solve.”

As a result of these challenges, the Russian government has also been forced to adjust energy tariffs and extend of a ban on petrol exports, the report added.

The same outlet warned that “problems in the Russian pension system highlighted the prospect of a further worsening of conditions for the older generation.”

The newspaper reports were shared and translated by

was hit with wide-ranging sanctions after President sent his troops into back in February 2022.

Many experts were surprised by the resilience of Moscow’s economy despite its isolation, but in recent months, has shown signs of vulnerability.

Inflation has ramped up in , with prices of basic goods rising rapidly, especially food items.

The Russian Central Bank has been forced to push up to 21%.

According to the International Institute for Strategic Studies’ latest Military Balance report, is spending 6.7% of GDP on defence – 13.1 trillion rubles (£115bn).

US President is attempting to facilitate peace talks between and .

However, he has sparked anger from Western allies after calling Ukrainian President a “dictator” last week.

On Monday, he refused to use the same term to describe Putin. He also said he is in “serious talks” with the Russian President over “major economic transactions.”