Food prices increased by almost 4.1% in Russia from January through October 2020. For comparison, food prices rose by 1.4% in the European Union during the same period, the Russian Federal State Statistics Service (Rosstat) said.
According to Rosstat, in October, food prices in Russia rose by 0.8%, while in the EU, the increase was only 0.3%. In Russia, the rise in prices affected mainly sugar, jam, honey, sweets, chocolate products, and fruits, albeit to a lesser extent,
Also, in the first ten months of 2020, prices for bakery products and cereals, as well as oils and fats, went up by 6.8% in Russia. In the EU, prices for bakery products and cereals increased by 0.9%, but oils and fats fell by 0.6%.
Fish and seafood prices went up by 3.5% in Russia, but this figure was 0.9% in the EU. Prices for meat in Russia and the EU increased by 2.1% and 1.6%, respectively. Prices for dairy products, cheeses, and eggs in the Russian Federation increased by 2.0%, while on average in the EU, this increase was by 0.6%.
The International Monetary Fund (IMF) did not rule out that it might revise the forecast for the dynamics of Russia's GDP downwards, despite the signs of a 'sound recovery,' NEWS.ru reported earlier.