Prices of products in Russia have risen by a maximum of five years.

Published 2021년 2월 18일

Tridge summary

In January 2021, Russia experienced its highest food price increase in five years, with a average rise of 7.57% compared to the previous year. This inflation was due to a combination of factors including global price hikes, increased grain exports leading to higher feed costs, depreciation of the ruble, poor harvest yields, import restrictions, and high demand leading to domestic labor shortages and increased wages. The most significant price increases were seen in Dagestan, Saratov region, and Adygea. In contrast, Chukotka saw the least food price increase at three percent. Meanwhile, the global organic farming market continued its growth in 2019, with France experiencing over 13% growth. India was home to the largest number of organic farmers, followed by Uganda and Ethiopia. The total organic farming area in 2019 was 72.3 million hectares, marking a 1.6% increase from the previous year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In January of this year, food prices in Russia have risen as much as possible over the past five years. Compared to January last year, prices, having outpaced inflation, increased by an average of 7.57 percent. Specialists of the analytical service of the international audit and consulting network FinExpertiza indicate that similarly strong price hikes were noted in 2016. But a characteristic feature of this year was the rise in food prices in the regions and regions with low incomes. The local population is forced to further increase the expenses of the family budget for potatoes, milk, meat and pasta. On the contrary, inflation in prosperous regions turned out to be lower. Grain export quota and duty will lower the cost of pork What, according to analysts, pushed the increase in food prices? First, the rise in food prices around the world, provoked by a pandemic, quarantine and disruption to logistics. They began to give a good price for grain on the world market, export from ...

Source: Rosng