MOSCOW — Russian consumers flocked to stores frantically buying a range of big-ticket items as they look to pre-empt price rises after the staggering fall in the value of the ruble over recent days.
As the government looked at ways of easing the selling pressure on the ruble, which has slid 15 percent in just two days and raised fears of a bank run, many Russians were buying cars and home appliances — in some cases in record numbers — before prices for these imported goods shoot higher.
Swedish furniture giant IKEA, for one, has already put consumers on notice that its prices will rise Thursday, which resulted in weekend-like crowds on a Wednesday afternoon.
Shops selling a broad range of items are reporting record sales while some have had to suspend operations, unsure how far down the ruble will go. Apple, for one, has halted all online sales in Russia.