Which Food Prices Are Rising Fastest (And Slowest) in Russia
SEAFOODNEWS.COM [The Moscow Times] - April 21, 2014
Data released Monday by state statistics service Rosstat show that as year-on-year food price inflation hit a startling 24.7 percent in March, price rises were by no means equal across the board.
Goods with a significant share of imports, such as sugar, have seen blistering price rises of more than 50 percent spurred by the steep devaluation of the ruble currency in the second half of 2014, which pushed up the price of imports. The ruble is currently down around one-third against the U.S. dollar since this time last year.
Other groups, such as fish and seafood, have been hit hard by Russia's embargo last August on a range of Western food imports in response to U.S. and EU sanctions on Moscow over Russia's role in the Ukraine crisis.
But in product categories where domestic production dominates - such as bread and baked goods - price rises are significantly less severe.
Here is a rundown of which food prices are rising fastest...
To Read Full Story Login Below.