When Russia first invaded Ukraine last month, sanctions were put in place by European and Western governments with hopes it would "weaken Russia's economic base and its capacity to modernise".
Although President Vladimir Putin and his troops have besieged various parts of Ukraine, destroying cities and injuring civilians, a single photo shows some of the impact the war has had on its own country.
A photo shared on Twitter depicts the reality of what small businesses and residents have endured with price hikes reflecting the rising costs of food and basic products.
A Russian news correspondent, based in Moscow, shared the image on Twitter which showed a small change added to a restaurant menu.
On each page of the menu, there's a sticker indicating a 20 per cent markup on all menu items.
"Restaurants in Russia be like: let’s put +20% stickers on menus. A quick fix for everything," the caption read alongside a photo of a restaurant menu.
While the price hike is alarming, many weren't surprised.
"In a week, they'll start printing menus where the prices are in euros and dollars, and the sticker specifies the current roubles-to-euro exchange rate," one person responded to the post.
"As long as they are still open, they will need to update that menu on a daily basis — not just price but also the items offered (based on the limited ingredients that will be available.) Those stickers will be handy for "fine-tuning," said another.
Record inflation numbers in Russia
Annual inflation in Russia has risen to 9.15 per cent in February, according to reports, which is said to be its highest in seven years.
This will most likely soar even further according to economists, amid the Western sanction imposed on Russia last month.
According to the Rosstat data released on Wednesday, the cost of nearly everything has spiked, from bread to petrol.
Grocery staples including sugar and cereals, including buckwheat, show some of the biggest increases of 20.6 per cent and 18 per cent, respectively.
Citizens have no doubt felt the impact of the rising costs. An EU citizen living in Moscow told New Zealand news platform RNZ the price of milk has doubled in the past two weeks.
According to Russian state news agency Tass, some retailers have limited price rises on some staples to just 5 per cent, RNZ reports, while others are restricting the number of basics customers can buy.
Apple Pay and Google Pay no longer work on Moscow's metro system, leading to long queues as people fumble about for cash pic.twitter.com/ezaLZneKiJ
— Jason Corcoran (@jason_corcoran) February 28, 2022
Earlier this month, photos from inside Russia showed the unravelling of daily life as locals queued at ATMs to withdraw cash as the national currency began to plummet and interest rates began to surge.
Some residents expressed fear the sanctions could trigger cash shortages and disrupt payments, Reuters reported.
It's not just Russia who has felt the pinch of inflation though with Aussies succumbing to rising petrol prices and the cost of everyday essentials.
The average price of E10 petrol in NSW is currently $2.10, while Diesel is $2.19 and Premium 98 is $2.32.
But there appears to be no end in sight for Aussies with a stark warning that fuel prices will continue to climb due to global pressures, including the Ukraine-Russia war.
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