Meat and milk may rise in price by 10-12 percent in Russia

UFA, 28 January 2020. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

In 2020, in Russia, it is projected an increase of milk and meat price by 10-12%, chocolate and waffles price - 5-7%, buckwheat - 5-6%. It was reported by Izvestia, citing data from the Analytical Center under the Government of the Russian Federation.

Experts explained that raw materials would rise in price due to the launch of monitoring systems for livestock products, as well as due to an increase in VAT for palm oil and a decrease in the area for buckwheat crops. However, in general, goods and services will not increase in price more than it is predicted in the planned inflation over the year.

The Association of Retail Companies (ACORT) notes that the prices of these categories of goods directly depend on producer prices. The cost of production may increase, including due to higher prices for fuel and utilities, various government regulation measures, the operation of duplicate traceability systems, as well as deficiencies in assessing the size of sown areas.