Russian inflation is raging at 60%, not the reported 3.6%, thanks to the ruble's 'freefall', top economist Steve Hanke says

• Russian inflation is soaring at extreme levels thanks to a steep slide in the ruble's exchange rate, according to Steve Hanke. 
• The economist estimated Russia's current annual inflation at 60%, almost 17 times the level reported by the central bank.
• "The ruble's FREE-FALL is fueling RAGING INFLATION in Russia," the Johns Hopkins professor said. 

Russia could be grappling with an unreported inflation crisis as its war with Ukraine rages on, if the estimates of top economist Steve Hanke are any guide.