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Woes of a top-10 global economy: utility bills up over 50%, residents stunned as bills top half a month's salary

Russia's utility costs for electricity, water and heating have risen more than 50% since the Ukraine conflict began in 2022, including over 13% this year, adding pressure on household budgets and complicating the central bank's fight against inflation. In Moscow, history teacher Polina Ibragimova, 34 and a mother of two, said her utility bill has risen about 25% since summer to 12,000 rubles (about $150), roughly half her monthly income. The annual tariff increase was delayed to October 1, after September's parliamentary election, so regional authorities approved some of the steepest hikes in years. The central bank kept its key rate at 14% on October 23, and Governor Elvira Nabiullina warned that higher utility prices would push household inflation expectations up, making the 4% inflation target harder to reach. Ukrainian drone attacks on Russian refineries are also driving a new wave of price increases, mainly through fuel costs.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Buồn của nền kinh tế thuộc top 10 thế giới: Giá điện nước tăng hơn 50%, người dân choáng váng vì hóa đơn vượt nửa tháng lương

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