Russia was the only country in Europe where food prices fell in May. In this respect report RIA Novosti refers to its own calculations.
In May, Russia remained the only country in Europe with food deflation – prices fell by a record 1.12% year-on-year. Annual deflation in food and non-alcoholic beverages in Russia has been observed only twice in history until May of this year – 0.42% in June 2018 and 0.22% in April this year.
According to Dmitry Vostrikov, Executive Director of the Association of Manufacturers and Suppliers of Food Products, the reason for the fall in food prices in Russia was the reorientation of supply routes, the expansion of payments in national currencies and the growth of grain crops.
He added that the current high food inflation in Europe is a result of the European Central Bank’s policy, which continues to increase the rate. Prices are also affected by high energy prices.
May 9, State Duma deputy Nikita Chaplin from the United Russia fraction declarationThat the Russian authorities are monitoring changes in the prices of socially important products, but price increases are inevitable. For this reason, it is useful to pay attention to the changes in the prices of imported wine, cheese and sausage.