Food prices in Russia increased by nearly one-third since the introduction of the embargo

By: trademagazin Date: 2016. 08. 02. 11:10

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Food prices in Russia increased by 31.6 percent over two years, as a result of the embargo against the Western countries – the Russian economic development ministry told RIA Novosti news agency on Tuesday.

The russian food embargo introduced in August 2014 led to imbalances and a decline in competition. The rise in food prices was 1.2 times higher than the general inflation rate, and contributed to the inflation with 46 percent. (Pogár Demeter, MTI)