Food prices in Russia increased by nearly one-third since the introduction of the embargo
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)
Related news
Food and non-alcoholic beverage price increases continue to accelerate in Austria
In Austria, the annual rate of consumer price inflation slowed…
Read more >Gergely Suppan: the margin freeze has caused prices to drop by as much as 40-50 percent for many foods
The price reduction for many food products has reached as…
Read more >GKI Analysis: Why are food prices constantly rising?
In recent times, the rise in the prices of basic…
Read more >Related news
Is game over for Temu and Shein in Europe, too?
The European market is facing a new challenge due to…
Read more >The SZÉP card, health fund membership and merchandise credit also increase the willingness to spend
The Széchenyi Holiday Card is part of everyday life: two-thirds…
Read more >Half of young people feel at least a 16 percent increase in prices
Young people experienced an average inflation rate of 19 percent…
Read more >