According to Russians, food prices have increased by around 14 percent since the beginning of the year. This was reported by RIA News Referring to the October bulletin of the Central Bank.
Official inflation at the end of October was 6.6%. The real increase in prices occurred in the food sector. The prices that have increased the most since January have been bananas, chicken, cabbage and tomatoes. The publication also stated that there was no traditional seasonal discount in vegetable and fruit prices.
Experts blame logistics for the increase in prices. Tariffs on road transport increased and the volatility of the ruble affected imports. Additionally, manufacturers inflate prices to make profits. According to Tamaki CEO Andrei Belyanin, rising food prices are a global problem. In Russia, the indicators are better than in many other countries.
The Central Bank increased interest rates at the end of October in order to control inflation. The Ministry expects this rate to be 7-7.5% by the end of the year. However, experts are more skeptical of their assessments. According to Igor Stroganov, Associate Professor of the Department of Entrepreneurship and Logistics at the Plekhanov Russian University of Economics, real inflation may exceed the target indicators of the department by 2-2.5 times.
Before that, Deputy Prime Minister Abramchenko commented rising food prices.
Officials before statedThe increase in food prices in the Russian Federation will not exceed inflation.