• Russians warned about the risk of future rise in price of products

  • Food inflation in Russia may increase due to the reduction in harvest certain types of vegetables and fruits. On Friday, August 11 cautions CB.

    "In the coming months, there is a risk of increasing food inflation due to a possible decrease in the harvest of some vegetables and fruits that can also lead to a rise in inflation expectations", — stated in the message controller.

    Adverse weather conditions observed in the Central region and the Volga region, can reduce the yield of the individual vegetable crops in agricultural enterprises and private farms and lead to higher prices in these areas.

    However, the scale of the seasonal decline in prices exceeded the expectations of the Central Bank. The annual growth of prices for fruits and vegetables slowed down to 6.9 percent after 11.6 percent in June. Inflation in non-food market fell to 3.7 percent, the cost of services grew by 4.1 percent.

    The regulator notes that to further anchor inflation close to four percent, you must maintain a moderately tight monetary policy.

    Earlier, on August 9, the Ministry of economic development reported, the prices for fruits and vegetables can be reduced by 15 percent in the coming months.

    According to Rosstat, inflation in July slowed down to 3.9 percent compared with July last year.


More news in the same category:

More Global News:

comments powered by Disqus