Russian food prices fall despite economic downturn

Global Business

An investigation in a Russian newspaper revealed that despite a downturn in the Russian economy, prices for some food products have remained unchanged or even decreased over the past few months. CCTV’s Julia Lyubova filed this report from Moscow.

Russian food prices fall despite economic downturn

An investigation in a Russian newspaper revealed that despite a downturn in the Russian economy, prices for some food products have remained unchanged or even decreased over the past few months.

Highlights:

  • The price freeze is a temporary and recent measure. Last year the fall of Russia’s ruble and a ban on EU and U.S. food imports have sent prices for some food items skyrocketing.
  • According to official statistics, food prices rose by 15 percent in 2014, but since the start of the year some cases of over 100 percent hikes in cabbage prices as well as the cost of cucumbers and tomatoes have been reported.