Metro Cash & Carry freezes prices for essential food for 2 mos

MOSCOW, Feb 13 (PRIME) -- German retailer Metro Cash & Carry has decided to freeze prices for essential food in Russia until April 13, the company said in a statement late Thursday.

“Metro Cash & Carry made a decision to fix prices for the main range of socially vital products (milk, bread, cereals, spaghetti) in all outlets in all 46 Russian regions, where the company has a presence – from Kaliningrad to Irkutsk – for a period of two months until April 13,” the company said.

The retailer said it is continuing ensuring the availability of goods and takes measures to curb growth despite the market volatility.

On Monday, retailer Dixy said it is freezing prices for a basic basket of products for up to three months.

Food prices rose 20.7% on the year in January on devaluation of the ruble and on double-digit inflation. The government is discussing measures to keep at least the basic food affordable for everyone, including a cap on the trade markup for retailers.

The government has a right to limit prices for socially important products for up to 90 days if their growth exceeds 30% within a month.

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