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Majority of Russians Think Inflation Is Too High

The majority of Russians think that current inflation levels are very high and are trying to cut back on spending by avoiding pricey purchases, according to a poll conducted by the state-run VTsIOM pollster, the Interfax news agency reported Thursday.

The number of Russians concerned about soaring prices has risen by 5 percent since December and now constitutes 70 percent of the population, according to the poll.

Only 23 percent of respondents called the rate of inflation moderate, while 4 percent considered it insignificant and 3 percent found it difficult to answer.

Almost two-thirds (64 percent) of Russians are refraining from big and expensive purchases while prices are so high, the poll revealed.

The majority of respondents (85 percent) think now is a bad time to take out bank loans.

The poll was conducted between Jan. 30-31 among 1,600 people in 130 towns across 46 Russian regions, Interfax reported.

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