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12 April, Monday

Ufa   °

Food inflation amounted to 7.7% in Bashkiria in January

Economy/Business

According to the National Bank RB, in Bashkiria, food inflation in January was 7.7% (+ 0.6% from December). At high world prices, cheap Russian grain, meat, and vegetable oils began to be in demand. The export outflow of goods led to a decrease in supply in domestic markets and, accordingly, an increase in prices.

As a result of rising producer costs, sunflower oil, pork, beef, poultry, eggs, and their processed products — semi-finished meat products (minced meat, canned food, smoked meats, sausages) rose. Also, bakery, cereals, and pasta rose in price. The lack of supply contributed to the rise in prices for potatoes, onions, and beets. This resulted from the low quality of the vegetable harvest in the producing regions due to unfavorable weather in 2020. Besides, this last vegetable crop is poorly stored.

Bananas have been growing in price for several months in a row: imports are declining due to poor harvests and supply disruptions. Simultaneously, due to the weak ruble, logistics are becoming more expensive — this was the main growth in prices for pears and grapes.

The annual rates of growth in prices for non-food products in Bashkiria amounted to 4.2% (at the December level), for services — 2.9% (a decrease of 0.1%). The country's annual inflation was 5.2% in January, in Bashkiria — 5.2%, in the Volga Federal District — 5.5%.

/translated by Tatiana Aksyutina
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