Prices of basic goods in Russia will increase by 7.7% in December 2024 compared to the same period in 2023. This forecast was given to socialbites.ca by Tatyana Suvorova, associate professor of the Department of Economic Theory and Behavioral Economics at Synergy University.
According to him, in November 2024 there was already an increase in prices: for butter they almost doubled, for meat in chain stores – up to 1 thousand rubles per 1 kg.
“The prices of flour, sugar, salt, milk and dairy products are still at the September 2024 level. A significant increase in cheese prices is expected due to the rennet shortage. “In addition, despite the increase in export-import volumes with China, commodity prices may also jump due to the increase in key interest rates, increase in credit costs, increase in unemployment and decrease in exports,” he said.
Suvorova advised Russians to look for discounted products, use cards and loyalty clubs, as well as price comparison services. The economist is sure that in the event of a crisis, the authorities must take measures to prevent price increases.
According to Suvorova’s forecast, in December Russians will see a double increase in prices: the traditional jump for the New Year and an increase in inflation of about 8-15%.
According to the Central Bank, annual inflation reached 8.4 percent as of October 21.
Russians before saidHow to save money on groceries.