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25 May, Monday

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Молния

What products will rise in price up to 20% in next two weeks - experts

Economy/Business

The largest food suppliers announced the upcoming review of purchase prices for some goods; as a result, they can grow from 5 to 20%, Izvestia reported, citing Rusprodsoyuz.

Suppliers have already notified retailers about the upcoming price increase; the situation may change in the next 14 days.

Among the products that will rise in price in the near future is coffee, tea, spices, canned goods, pasta, as well as bakery products and fish – goods, which cost price has changed due to currency fluctuations and restrictions due to coronavirus.

Meanwhile, according to the publication in the Association of Retail Companies (ACORT), retailers themselves are trying to curb the rise in the price of goods.

However, if all suppliers notify of a price review, the networks are forced to raise them, said Andrei Karpov, chairman of the board of the Russian Association of Retail Market Experts. According to him, the process will be affected by the ratio of supply and demand.

As the Bashinform News Agency reported on April 6, the largest rise in the price of buckwheat in Russian regions is observed in Bashkiria. Such data were cited by Rosstat. In March, buckwheat prices increased by 13.8%. The same growth was observed in the Altai Territory.

Besides, sugar has risen in price in all regions of the country. Experts also noted an increase in the price of chicken, flour, and pasta — about two percent. Beef, pork, fish, canned food, salt, peas, beans, and oatmeal rose 1.1% -1.6%.

/translated by Tatiana Aksyutina
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