Russia is facing a food price crisis, with staples like potatoes, butter, milk, and bread becoming increasingly expensive. The prices have surged by at least 20% for vegetables, while those of exotic fruit and sour cream have risen by over 30%. The country’s pensioner, Tatiana, has had to cut back on her food spending, skipping traditional New Year’s dishes like caviar.
The situation is worst in rural areas, where the prices of basic items are twice as high as last year. Officials are struggling to control the rising prices, with the Bank of Russia increasing interest rates to combat inflation. The government has promised measures to stabilize the food market, but experts say monetary policy can only do so much.
The war in Ukraine has reduced the country’s agricultural workforce, and fluctuating weather conditions have further exacerbated the issue. Russia is now heavily reliant on imports, with some goods like butter coming from Turkey and Azerbaijan. Experts warn that forceful pressure may not be effective in bringing prices down, suggesting a more nuanced approach is needed to address the crisis.
Source: https://fortune.com/europe/2024/11/14/russian-food-prices-skyrocket-in-growing-concern-for-kremlin