Russian Ministry of Agriculture predicts that food inflation will fall in the second quarter

Russia’s ZERNO news network reported on April 11 that Avilisov, director foodmate.
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The price-limiting measures taken by the Russian government will gradually take effect starting from the second quarter.
Since December last year, the foodmate.
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The drop in grain prices has avoided the rise in the cost of domestic bakery products, and will have an impact on foodmate.
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　　In addition, favorable international market factors will also reduce Russian food inflationary pressures.
Due to the better cereal harvest and the expected increase in Indian sugar exports, the International Food and Agriculture Organization believes that global cereal and sugar prices fell in March.
In the medium term, this will have an impact on product prices.

 

　　According to data from the Russian Federal Statistical Office, the Russian inflation rate increased by 0.
66% month-on-month in March (0.
78% month-on-month in February) and 5.
79% year-on-year (5.
67% in February).
The increase in food prices in Russia in March increased by 0.
82% month-on-month (1.
22% in February) and 7.
58% year-on-year (7.
72% in February).