Russian import ban fuels food price rises
August 19, 2014 6:07 pm
Food prices are rising in parts of Russia and experts say the state embargo on imports of Western food appears to be making things worse.
Since the ban was imposed on 7 August imported pork used in processed meat in Moscow has gone up by 6%, Russian business daily Kommersant reports.
In St Petersburg food prices have risen 10%. That inflation occurred even before the impact of sanctions.
Russia’s ban on many Western foods is retaliation for sanctions over Ukraine.
The St Petersburg government’s economic policy chief, Anatoly Kotov, said the pork price had risen by 23.5% and chicken by 25.8%.
On Monday, Russia’s Prime Minister Dmitry Medvedev said he did not expect the ban on food imports to lead to price rises or shortages in the shops. But he also said he hoped the ban – introduced for a year – would not last too long.