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Product price growth is more rapid in Russia then it was expected



The prices will grow twice faster.



30.Sep.14 4:21 PM
By Elena Tkachenko
Photo INNOV.RU

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Product price growth is more rapid in Russia then it was expected
Representative of Ministry of Economy Development said that the overall product price growth will be up to 12% in 2014. This information was published in social and economic forecast of country development till 2017.

Specialists of the Ministry say that sanctions against Russian federation have a negative influence on import of food products and raw materials. Foreign goods are much cheaper in comparison with domestic ones. This was the main tool for controlling the price of domestic producers in agricultural and recycling fields. In addition domestic producers are less profitable. That is why it is absolutely impossible to avoid the price growth.

On the other hand experts from the Ministry of Economic Development paid attention to the fact that price growth of some groups of products will be less then we have expected. That is why there will be now rapid growth of inflation in the nearest future. Moreover they expect local manufacturers will produce slightly more agricultural goods in 2015-2016. This is due to low level of competition in this field. However the prices will continue increasing. The growth will be rather rapid. Such situation is rather hard to avoid. All possible measures and solutions will have no effect and are of no use at the moment.



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