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Food prices in Russia may rise by 15%
Food prices in Russian stores may rise by 5-15%. This is due to an increase in their cost after the fall of the ruble at the end of March 2020. Some suppliers have already informed retailers about the nearest increase in selling prices by 20, 30 and even 50%.
According to RIA News With reference to the Association of Retail Companies, stores found themselves in a difficult situation, at the same time prices from suppliers increase and demand from customers decreases. According to ACORT, retailers minimize their own margin in order to keep the cost of products at the same level.
However, for a long time, according to experts, this will not succeed. Entrepreneurs lose profitability due to an attempt to preserve the assortment, and also incur large costs to provide protective measures for customers and employees.