Russia's Federal Statistics Agency, Rosstat, announced price growth details in the first quarter of 2014. According to him, food products become more expensive in Russia 40 times faster than in Europe. Experts explain such a significant difference with the ruble devaluation, as it is mainly imported products that become more expensive.
Currently, imported foodstuffs make up a lion's share of the range of Russian food stores. The main "culprits" of this trend are fruit and vegetable crops that Russia imports during cold seasons. Food prices also grow because of imported coffee, tea, dairy products, meat and fish.
Experts also emphasize the influence of inflation and low competition on the market, which is traditionally stronger in Europe than in Russia.
Reader Comments
We're probably talking about food that could be grown in greenhouses, aquaculture, whatever. Not to mention substitutes. As well, a lot of former agriculture land has reportedly returned to wild grasslands, which could mean grass fed beef, pork, poultry, sheep, etc. Not the GMO corn-fed, vaccinated, force-fed, CAFOed animals North Americans are forced to consume.
If they still have that $200 billion US Tbill account, now is a good time to divest oneself of such useless idols and put the funds to better use, while you still can. When the dam breaks, no one will want them and their uselessness will become obvious to all simultaneously, not good for sales.