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“Food prices can rise by 10-20%”: what will rise in price in Russia in the first place

Date: May 23, 2024 Time: 09:04:18

First, imported products will rise in price.

Photo: Artem KILKIN

After such statements, not a piece rises to his throat. “Food prices will soon increase by 10 to 20 percent!” – scared people in the public organization of small and medium-sized enterprises “Support Russia”. This is exactly the forecast given in his last interview by the head of the economic committee of the Moscow branch of Opora, Alexei Kanevsky.

Are they really getting more expensive? And why can this happen? Aleksey Zubets, Director of the Socio-Economic Research Institute of the Financial University of the Government of the Russian Federation, helped KP.RU solve the problems.

– Well, 20% is the upper ceiling, – the economist “reassured” us. – And so, indeed, prices are expected to rise. Since the dollar was at 75-85 rubles, now it is about 95. Consequently, all imports, including components for food production, are becoming more expensive. Under these conditions, producers will transfer their cultivation costs to the consumer. And because of this, we will have an increase in prices.

But not everything will go up in price. For example, Sergei Gudkov, Vice President of the Fish Union, said that this year we have the richest salmon catch. And soon red fish and caviar may become cheaper by 35-40 percent.

But that is not all.

– We expect a near-record cereal harvest. And most likely there will not be a serious increase in prices for buckwheat and bread, Aleksey Zubets is sure.

– And what goods, not just products, can rise in price in the first place?

– In the first place, those who have most of the imports. These are cars, household appliances, clothing, etc. And their prices are already going up. For example, according to Rosstat, cars have recently increased in price by 12%.

– But at least in terms of clothing, it seems that import substitution is going well…

– Import substitution is going well in the production of military equipment. And in terms of clothing, in fact, domestic production is growing. But it will be many more years before we can satisfy the population’s demand for everyday goods.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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