A neighbor is more – the Russian Newspaper

Latvia food inflation has overtaken Russia

At the end of 2016, the Russian food inflation is 3.5 times faster than the European. In our stores, prices rose 3.9 percent, while in the EU only 1.1 percent, according to Rosstat.

Over the year, most notably rose oil – from 13 percent (the average for EU countries – 2.7 per cent), fish and seafood – plus 8.6 percent against the European 3. The price of milk, cheese and eggs in Europe in 2016 has not changed in Russia increased by 8.5 percent.

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prices of bread and cereals grew by 5.6 percent in the European Union – on 0,2%. Sugar, jam, honey, chocolate and sweets rose by 4.7 percent (in Europe a plus of 0.9), meat and meat products – by 2.6% (which is 0.4). Last year in Russia became cheaper only fruit by 4 percent (in the European Union, by contrast, price growth is 2 percent) and vegetables – at 7.7 percent (plus 3.7 percent in Europe).

In some EU countries the price of food has increased. For example, in Slovakia, great Britain, Greece, Finland. While growth in food prices we were overtaken by Latvia, with 4.9 percent.

“that Russian food inflation ahead of the European, it is not unusual, since the EU has traditionally been very low inflation”, – says Director of the Russian centre of living standards Vyacheslav Bobkov. According to him, for Europeans, high rate is if the inflation went over 5 percent. The established European Central Bank’s target annual inflation is only 2 percent. While one of the outcomes of 2016 in Russia was the lowest in recent history of our country’s official inflation rate is 5.4 percent. The previous record was in 2011, and 6.1.

“that now inflation in Russia could accelerate, too normal. As a rule, the price growth during the year is very uneven and a large part incorporates the first quarter,” – said the source “RG”. In addition, in January, retirees received a lump-sum payment in the amount of 5 thousand rubles. Market it could not fail to react.