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Food prices in Russia were 3 times faster in 2020 than in Europe

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Food prices in Russia were 3 times faster in 2020 than in Europe

The cost of food products from January to July this year in Russia rose three times faster than in the European Union, Rosstat has said.

Thus, in the Russian Federation the growth was 5%, while in Europe it was only 1.6%.

The price increase peaked in April due to the pandemic. At that time, food prices in our country increased by 2.2%, while in European countries - by 1.3%. Then, in May and June, against the background of further agiotage in Russia, the cost of goods by inertia rose by 0.1%, and in July, the same amount was downgraded by a short-term decline in the dollar and the euro.

At the same time, the EU observed the strongest dynamics of decline - after the average rise in prices in June and July it began to decline by 0.4% and 1.3% respectively. More successful economic policy in Europe, among other factors, contributed to this.

Fruit prices were increased most of all: in Russia - by more than 25%, and in the European Union - by 9.6%. It is worth noting that most of such products are imported and the pandemic in this context had a significant impact on the rise in production costs.

On the second line were vegetables, which in Russia became more expensive by more than 10%, while in Europe, on the contrary, they fell in price by 1.7% as not the most fussy commodity.

During the quarantine prices for cereals and bakery products began to rise. Here the growth amounted to 5.6% and 1.1%, respectively. Sweets, including sugar, honey, jam, candy and chocolate became more expensive.

Fish and seafood, meat and dairy products grew less expensive.

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Author: Ksenia Gustova

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