Russia: Rosstat announced an increase in prices for milk formulas and canned meat

Published Mar 17, 2022

Tridge summary

Prices for baby food and other necessities have seen a significant increase in Russia, with powdered milk formulas going up by 4.1% in a week and 7.02% since the start of the year. Canned meat for children also saw a 2.2% increase over the same period. Other products like butter, pork, sour cream, pasteurized and sterilized milk, chicken eggs, and rennet cheese also experienced price hikes. The weekly inflation rate reached a record high of 2.2% since 1998, attributed to market speculation and a surge in demand. In response, lawmakers are considering granting the government the power to set maximum selling prices for essential food items.

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

Original content

The cost of powdered milk formulas for baby food for the week from March 5 to March 11 of this year, on average in Russia, increased by 4.1%, canned meat for children over the same period rose by 2.2%, follows from Rosstat data. Thus, since the beginning of the current year, the price of powdered milk formulas has already increased by 7.02%, for canned meat for children - by 5.71%. Butter prices on average in Russia rose by 1.4% (since the beginning of the year - by 6.26%). In addition, from March 5 to March 11, the cost of pork increased by 1.3% (since the beginning of the year it has increased only by 0.16%) and sour cream (since the beginning of the year, products have risen in price by 5.61%). Pasteurized milk has also risen in price by 1.2% over the past week (by 5.41% since the beginning of the year). Sterilized milk became more expensive by 1.1%, compared to the beginning of the year, the price for it increased by 5.33%. On average, chicken eggs in the country became more ...

Source: Milknews