Significant increase of non-food products in Russia

Noam Stiekema

The Ministry of economic development of the country reported significant increase of non-food products in Russia. According to analyzes of the department on an annual basis prices increased by 11.2%. This is the sharpest growth in the last 15 years. Compared with December the growth was 3.2%. The reasons for this growth are increased demand […]

Russia inflation

Russia inflationThe Ministry of economic development of the country reported significant increase of non-food products in Russia. According to analyzes of the department on an annual basis prices increased by 11.2%. This is the sharpest growth in the last 15 years. Compared with December the growth was 3.2%.

The reasons for this growth are increased demand for goods and the depreciation of the Russian national currency. The Ministry data show that the growth of prices of goods such as cars, shoes, clothes and cosmetics is within 1.5-5 times compared to figures for December. Other commodities, however slow the increase in prices – in December the price of televisions, for example, has risen by 14%, while in January the growth was 3.6%.

Against the background of the devaluation of the Russian ruble and the state of international markets in Russia notes and growth of food prices, further recalls Tass, citing a report by the Ministry of social-economic development of Russia in January. Among the products that rose sharp pace is sugar, whose price in January has risen by almost 20% on a monthly basis.

We recall that yesterday retailers Russia agreed to freeze prices of 20 socially important food products for a period of two months. The agreement was reached after the first meeting of the anti-crisis committee, which is headed by Deputy Prime Minister Igor Shuvalov and it provides commodity prices do not rise, if necessary, can be reduced. Each merchant association of companies in the retail sector in Russia will choose its list of products whose prices do not change in the coming months.

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