Meat and milk prices may grow by 10-12% this year, the Russian Government’s Analytical Center says.
Buckwheat and chocolate prices will go up as well, by 5-7%. The cost of chocolate, ice cream and waffles will increase due to the increased VAT on palm oil and the growing palm oil prices: they have surged by 40% in the past six months.
According to Izvestia daily, buckwheat prices will increase due to the low buckwheat yield. Meat prices will rise due to the producers’ increased spending on gas and electricity. Milk prices will go up because of the introduction of the mandatory electronic veterinary certification.