The food departments of supermarkets remain an inflation disaster zone, where prices have skyrocketed by tens of percent and continue to rise.
Despite the Kremlin authorities' attempts to slow the growth of consumer prices, inflation in the aggressor state continues to accelerate. In November, monthly inflation in Russia became a record since April 2022.
The Moscow Times reports this, citing information from Rosstat released on Wednesday, November 27.
From November 19 to 25, the consumer price index in Russia added 0.36%, has grown by 1.15% since the beginning of the month, and by 7.8% since the beginning of the year.
Economist of the CentroCredit bank Evgeny Suvorov called the published figures “a real disaster.”
Out of a hundred goods in the Rosstat consumer basket, 74 are becoming more expensive, and if the current rate of price growth continues throughout the year, then the annual inflation, according to Suvorov, will reach 16%.
The food departments of supermarkets remain the inflation disaster zone, where prices have skyrocketed by tens of percent and continue to rise.
According to Rosstat data, the leaders in price increases were vegetables – potatoes have risen in price by 78.4% since the beginning of the year, cabbage – by 30.7%, beets – by 27%. Butter price growth accelerated to 31.6%, despite the government's attempts to organize imports from Turkey and Iran.
General food inflation exceeded 10% for the first time since January 2023.
A new inflation shock, Suvorov notes, will bring a collapse of the ruble to the economy: since the beginning of August, the dollar and the euro have risen in price by 25%, and on Wednesday they set records since March 2022 – 114 and 120 rubles, respectively.
Recall that Russia has been engulfed by a price crisis in the butter market; since the beginning of the year, this popular product has risen in price by more than a quarter due to problems with local producers. To meet demand, Russian authorities export butter from the UAE and Turkey.
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