Product retail price is predictable in Nizhny Novgorod region, Russia

Consumers are well-aware of the situation. 19.Sep.14 8:07 AM By Svetlana Siuhina Photo Toinnov.com    583

Product price changes in Nizhny Novgorod region are predictable. Such statement was made by the Head of Federal Antimonopoly Service Mikhail Teodorovich. “Retail prices are still predictable. Consumers understand the situation and do not call on the hot line which was created by the federal Antimonopoly Service for indicating any facts of unreasonable price increase which is violation of antimonopoly law”, - said Mikhail Teodorovich. The hot line has been operating for 3 month. And only ten calls regarding possible violations has been received. That is why we can’t say that several complains may turn out to be a tendency of price increase. Regular monitoring which is accomplished by the service has shown that prices of the main products have increased in a predictable way. In according with the latest researches some products have become more expensive while others cheaper. For instance, butter has become 18% more expensive in comparison with January prices. However the price has decreases by 2% in August. It means that sanctions have not influenced Russian product market. Some products have become more expensive. For example, pork is 21% more expensive while lamb price has become 43% higher. This is due to limitations on import of several products from European countries. These limitations were expected to have such negative influence. Cooperation which has been developing for years stopped. Now suppliers are forced to look for other producers. New agreements are signed; new logistic systems and schemes are being worked out. Some time is necessary in order to arrange all necessary formalities as well as development of financial relations between new partners. All this may take several months. As soon as this period is over, we will be able to speak about stick prices that will eventually remain on the same level.

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