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.

Read this next

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

Digital Assets

Prisma Finance suffers $10 million crypto exploit, attack ongoing

Liquid staking protocol Prisma Finance fell victim to a security exploit on March 28, resulting in nearly $10 million in Prisma mkUSD and wrapped stETH being stolen by hackers.

<