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Ministry of Finance: food prices are growing at an outstripping pace

Ministry of Finance: food prices are growing at an outstripping pace
Photo: pixabay.com

In Russia, the Ministry of Finance first saw signs of overheating in the consumer market. A particularly acute situation has developed in the pricing of food products - the rise in prices is outstripping inflation.

As they write "News", The Ministry of Finance announced signs of overheating of the market in its draft of the main directions of budgetary, tax and customs-tariff policy for 2022 and planned 2023 and 2024. According to the ministry's conclusion, the main factors influencing the pricing were the outstripping growth in demand and the lack of production capacity. At the same time, at the non-global level, there is also a shortage of production capacity in certain groups of goods. This creates an increased inflationary background.

According to Rosstat, the cost of goods and services in August 2021 increased by 6,68% compared to the same period last year. At the same time, the increase in prices for food products amounted to 7,7%. And sugar, eggs, sunflower oil rose in price by 38,1%, 27,3% and 15,4%, respectively.

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