Russian citizens were warned about an upcoming rise in the prices of a number of products, which experts attribute to the reduction in the production volume of a number of fruits and vegetables this year.
The Central Bank of Russia issued a warning on the growth of prices for vegetables and fruits. The regulator's statement says that in the coming months the risk of higher food inflation will continue because of a possible reduction in the yield of some vegetables and fruits, which may also lead to an increase in inflationary expectations.
Unfavourable weather conditions in agricultural regions of the country are allegedly to blame for the lower yield of certain vegetable crops and their consequent price increases.
The Ministry of Economic Development of the Russian Federation, however, actually forecasts a 15% decline in the prices of vegetables and fruits in the coming months, as reported by Izvestia. If this was the case, inflation in August and September would then be reduced by 0.6 percentage points.
Furthermore, the department expects the annual inflation to slow down to 3.3-3.6 percent.
According to statistics from Rosstat, consumer prices in Russia have been declining for two weeks in a row. The cost of fruits and vegetables has fallen by an average of 3.9 percent. Cabbage has become cheaper by 12.1 percent, while potatoes, tomatoes, onions, cucumbers and carrots have become between 4.9 and 7.5 percent cheaper.
Sources: og.ru and vtambove.ru
