Price of Alcohol, Tea and Coffee will go up by 30% due to low Ruble Exchange Rate

Russian economy is in bad conditions at the moment. 19.Dec.14 8:29 AM By Abigail Richards Photo moygorod-online.ru    562

Last few weeks have turned out to be a great challenge for Russian economy due to low level of ruble exchange rate. Retailors started receiving notes about the price increase from suppliers of imported alcohol. The price is supposed to go up by 20%. It also includes tea and coffee. Representative of X5 Retail Group retail chain Vladimir Rusanov noted that they have already received notification from suppliers of abovementioned groups of products. He also added that there have not been any notifications regarding other segments. At the same time the head of marketing department of “SDS-FOODS” Ltd. Olesya Karpacheva said that the price on alcohol, tea and coffee has already increased by at least 20%. In accordance with the official statistics the price level has increase by 9.6% in Russia in2014. For example, buckwheat has gone up by 4% only over the previous week. Sugar has become 3% more expensive along with eggs which price has increased by 2.7%. Sunflower oil, butter, rice and fish are also becoming more expensive. The price of this group of products has increased by 1.0-1.9%. We have already written about the fact that the price of buckwheat has become stable in Nizhny Novgorod. The Head of Regional Antimonopoly Service reported during the conference the price growth of buckwheat has stopped. It is becoming even lower in some shops of the region.

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