Consumer shopping frenzy in Russia as falling rouble prompts stockpiling and bank run fears

Russian consumers have flocked to stores, frantically buying a range of big-ticket items as they looked to pre-empt price rises following the staggering fall in the value of the rouble over recent days.

As the government looked at ways of easing the selling pressure on the rouble, which has slid 15% 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 has already put consumers on notice that its prices will rise today, which resulted in weekend-like crowds on a Wednesday afternoon.