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No sharp price rises in Russia after food embargo — ministry

August 28, 2014, 17:26 UTC+3 MOSCOW
The Industry and Trade Ministry has launched daily monitoring of food prices in federal and local trade chains, stores and food marketplaces
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© EPA/YURI KOCHETKOV

MOSCOW, August 28. /ITAR-TASS/. Russia’s Industry and Trade Ministry has not registered any sharp increases in retail food prices in the past two weeks after Russia imposed an embargo on food imports in response to Western sanctions, the ministry said on Thursday.

The Industry and Trade Ministry has launched daily monitoring of food prices in federal and local trade chains, stores and food marketplaces after the Russian government imposed a one-year ban on the imports of agricultural and food products from the countries that slapped sanctions against Russia over its stance on developments in neighboring Ukraine.

The ministry’s data covering the period of August 8-25 show that food prices increased by an average of 1.1% for poultry, 0.3% for pork, 0.1% for beef and 0.1% for butter. At the same time, a seasonal decline was registered in vegetable and fruit prices, with the prices of potatoes falling by 2.3%, grapes by 0.9% and white cabbage by 0.8%

The consumer price index is fluctuating within the norm in cities with developed chain trade.

Russia’s Industry and Trade Ministry has been assigned the task to prevent speculative price hikes, maximally expand sales channels for domestic agricultural producers and stimulate domestic food production and consumption.

Russian President Vladimir Putin signed a decree in early August to ban for one year the imports of agricultural, raw and food products from the countries that imposed sanctions against Russia.

Prime Minister Dmitry Medvedev announced that the Russian government had imposed a one-year ban on imports of beef, pork, poultry, fish, cheeses, fruit, vegetables and dairy products from Australia, Canada, the European Union, the United States and Norway.

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