Russian Consumer Worse off

The majority of Russians are noticing that prices for fruit, vegetables and meat have increased, according to research done by Itar-Tass. Respondents indicated they are spending more money on these food. Not only do consumers notice a downside to the boycott due to prices in supermarkets, products on the shelves have also changed. Belgian newspaper De Standaard visited a Russian supermarket, and found a stripped assortment of meat. It is also difficult for industry, Russian companies invested too little, and cannot compete with Western techniques.

According to the Russian static service, the consumer price index has increased by six per cent in the past 12 months. Economic indicators are also still in the red. October experienced a decrease of 4.4 per cent in retail sales.

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