This paper uses daily data collected online to analyse the impact of the economic sanctions imposed on Russia, following the invasion of Ukraine, on consumer prices and product availability across various product categories in Russia.
The results of our analysis indicate that the sanctions had a significant impact on consumer price dynamics in Russia, generating an additional average inflation of 12 percentage points between March and October 2022. However, this effect was attenuated over the course of the period analysed. Product availability was affected to a notably lesser extent compared with prices. The exchange rate emerged as the primary transmission channel for the effects of the sanctions.
Published in 2024 in: Journal of Economic Behavior & Organization, v. 225, pp. 483-521.
