People queue for eggs bought to be painted as Orthodox Easter approches from a shop improvised in an old truck in Tiraspol, the main city of Transdniestr separatist republic of Moldova April 16, 2014. (AFP PHOTO DANIEL MIHAILESCU)
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"Everything has gone up 50 percent," grumbles Kiev fishmonger Albert as he lays out his wares in the local market, another victim of Ukraine's economic crisis sparked by months of political turmoil.Petrol prices have doubled in two months, and this week, Kiev's main bread producer, KyivKhlib, announced it had no choice but to raise its prices by 10 percent.Ukraine was already in recession at the end of 2013 and authorities have warned that the economy could shrink by as much as 3 percent this year due to the political unrest.Concerned that inflation was running at more than 15 percent, the central bank last week announced a hefty hike in interest rates from 6.5 percent to 9.5 percent in a desperate bid to bolster consumer confidence and the currency.Industrial production, a vital component of the country's economy, plunged by 5 percent in the first quarter compared to the same period a year ago.
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