“The problem is that inflation started about a year and a half ago.
This is the absolute effect of the pandemic.
Countries turned on printing presses to help people and businesses, printed a lot of money, and goods and services were not created for this money,” Ostapkovich said.
According to the economist, Western countries probably associate the concept of "Putin's inflation" with the intensification of the food and energy crises.
This factor, as noted by the economist, always leads to increased inflation.
“The basis of the inflationary surge is precisely the pandemic and the not entirely correct macroeconomic policy of Western countries led by the United States ... Of course, due to sanctions, the West will lose some interest, inequality will increase, and GDP will decrease,” the expert concluded.
Earlier at the plenary session of the SPIEF, Putin called the statements of Western countries about "Putin's inflation" stupidity.